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CLF

Cleveland-Cliffs

$10.89

-0.18 (-1.63%)

08:33
02/08/19
02/08
08:33
02/08/19
08:33

Cleveland-Cliffs price target raised to $13 from $10 at Citi

Citi analyst Alexander Hacking raised his price target for Cleveland-Cliffs to $13 to reflect his firm's higher iron ore price forecasts. Cleveland-Cliffs is expected to generate "materially higher" free cash flow in 2019 through 2022, Hacking tells investors in a research note. He keeps a Buy rating on the shares.

  • 08

    Feb

CLF Cleveland-Cliffs
$10.89

-0.18 (-1.63%)

01/22/19
JEFF
01/22/19
DOWNGRADE
Target $24
JEFF
Hold
Jefferies downgrades U.S. Steel to Hold on guidance risk
Jefferies analyst Seth Rosenfeld downgraded U.S. Steel to Hold from Buy and lowered his price target for the shares to $24 from $38. "Poor" Q4 earnings and Q1 guides will begin to reflect the extent of recent steel margin weakness, Rosenfeld tells investors in a research note. The analyst, while remaining "constructive" on the broader Steel sector, downgraded U.S. Steel to reflect guidance risk and "increasingly challenged" long-term prospects. With both U.S. and European flat steel margins drifting lower, drivers for a "meaningful recovery" at the company are "hard to identify," says the analyst. As such, he believes U.S. Steel's 2019 EBITDA guidance risks disappointing consensus expectations. Rosenfeld's top picks in the U.S. are Nucor (NUE), Commercial Metals (CMC), Steel Dynamics (STLD), Reliance Steel (RS) and Cleveland-Cliffs (CLF).
01/08/19
COWN
01/08/19
INITIATION
Target $8.5
COWN
Market Perform
Cleveland-Cliffs initiated with a Market Perform at Cowen
Cowen analyst Tyler Kenyon initiated Cleveland-Cliffs with a Neutral and $8.50 price target.
12/13/18
RILY
12/13/18
NO CHANGE
Target $14
RILY
Buy
Cleveland-Cliffs recent pullback a buying opportunity, says B. Riley FBR
B. Riley FBR analyst Lucas Pipes says the "noise" around pellet premiums has created a buying opportunity in shares of Cleveland-Cliffs. He lowered his price target for the shares to $14 from $15 and reiterates a Buy rating on the name.
10/23/18
VERF
10/23/18
NO CHANGE
Target $5.13
VERF
Sell
Vertical sees Cleveland-Cliffs shares heading to near $5 amid excessive supply
In a research note titled "Does the US Steel Industry Supply/Demand Backdrop Suggest CLF is Nearing the 'Cliff'?," Vertical Group analyst Gordon Johnson maintains a Sell rating on shares of Cleveland-Cliffs. The analyst believes "excess" supply is ramping into a "late cycle" U.S. steel market. Growth for sheet products in Q2 went negative at down 1.6% year-over-year, a "sharp deceleration" from the trailing four quarter average of 5.1% year-over-year growth, Johnson writes to investors. In addition, with 10-year U.S. treasury rates at levels not seen since 2011, continued headwinds to both auto and construction demand in the U.S. is likely, the analyst contends. Lastly, he points out that after peaking on July 12, U.S. hot rolled coil spot prices have dropped 8.9% in just over three months. Steel investors have historically reacted "rather negatively to late cycle irrational capacity ramps," Johnson cautions. He has a 12-month price target of $5.13 for shares of Cleveland-Cliffs. The stock in morning trading is down 4%, or 47c, to $10.87.

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