Goldman Sachs Slashes Numbers on Cliffs Natural Resources (CLF) But Still Sees Ample Upside
Tweet Send to a FriendGet Alerts CLF Hot Sheet
Price: $18.59 +5.09%
Rating Summary:
6 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Rating Summary:
6 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Trade CLF Now!
Analysts at Goldman Sachs are out positive on Cliffs Natural Resources (NYSE: CLF), saying despite a lower iron ore forecast there is still significant upside in the stock.
Goldman lowered their commodity price forecasts for 2012 through 2015, with iron ore prices declining an average of 9%. Their new spot iron price estimates are $141/$155/$140/$110 for 2012-2014 from $150/$165 /$150/$130. This lowers their EPS forecasts for 2012-2015 an average of 29%. New 2012 estimate is lowered to $6.35 from $8.00 and 2013 to $9.25 from $12.75.
The firm maintained their Buy rating and cut their price target from $77 to $65, saying it remains their top picks in its metals & mining coverage.
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 $47.63 yesterday, with a 52 week range of $44.40-$102.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Goldman lowered their commodity price forecasts for 2012 through 2015, with iron ore prices declining an average of 9%. Their new spot iron price estimates are $141/$155/$140/$110 for 2012-2014 from $150/$165 /$150/$130. This lowers their EPS forecasts for 2012-2015 an average of 29%. New 2012 estimate is lowered to $6.35 from $8.00 and 2013 to $9.25 from $12.75.
The firm maintained their Buy rating and cut their price target from $77 to $65, saying it remains their top picks in its metals & mining coverage.
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 $47.63 yesterday, with a 52 week range of $44.40-$102.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- Wells Fargo Starts StealthGas (GASS) at Outperform
- Nokia (NOK) Could See Downside as Siemens Exits NSN Joint-Venture - Goldman
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
Goldman Sachs
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
