Credit Suisse Starts Cliffs Natural Resources (CLF) at Underperform

Credit Suisse initiates coverage on Cliffs Natural Resources (NYSE: CLF) with a Underperform rating and a price target of $1.00.

Analyst Curt Woodworth commented, "Credit Suisse is bearish on medium-term iron ore fundamentals, forecasting prices of $35/tonne in 2H-16 as Chinese demand remains structurally weak and a new wave of supply enters the market. We also believe volume trends remain bearish in the US owing to significant structural challenges facing integrated producers. We note that CLF faces debt maturities of $294mm in 2018 and ~$1.7 billion in 2020."

For an analyst ratings summary and ratings history on Cliffs Natural Resources click here. For more ratings news on Cliffs Natural Resources click here.

Shares of Cliffs Natural Resources closed at $2.58 yesterday.

You May Also Be Interested In

• Loop Capital Starts DoorDash Inc. (DASH) at Buy, 'Category Killer with Stellar Execution'
• Cleveland-Cliffs (CLF) April weekly 21 straddle into quarter results
• Piper Sandler Downgrades Southwestern Energy (SWN) to Neutral