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FBR Capital Starts Cliffs Natural Resources (CLF) at Market Perform

September 18, 2015 7:38 AM EDT
Get Alerts CLF Hot Sheet
Price: $22.74 +2.76%

Rating Summary:
    9 Buy, 11 Hold, 9 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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FBR Capital initiates coverage on Cliffs Natural Resources (NYSE: CLF) with a Market Perform rating and a price target of $3.50.

Analyst Lucas Pipes commented, "Cliffs went from being considered a “foregone conclusion” to a stock that deserves renewed attention. We see delays at Essar Steel Minnesota and debt reduction as potential catalysts. We believe there are a myriad of potential outcomes for Cliffs over the next 12 to 18 months, and with our view of Cliffs’ sustainable long-term margins, we believe that the shares are fairly priced at this time."

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 $3.20 yesterday.



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