UBS Maintains a 'Buy' on Cliffs Natural Resources (CLF); Blame Canada (Again)
Tweet
Share
E-mailGet Alerts CLF Hot Sheet
Price: $11.90 -2.06%
Rating Summary:
5 Buy, 16 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 16 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
UBS maintains a 'Buy' on Cliffs Natural Resources (NYSE: CLF) price target lowered from $102 to $98.
Analyst, Shneur Z. Gershuni, said, "CLF missed cons/UBSe EPS with an adj. $0.85 in 1Q. Canadian iron ore costs continue to disappoint and vols were light. Coal sales were solid, but pricing disappointed; mgmt reduced guided rev/t for the remainder of ‘12. That said, U.S. iron ore costs decreased meaningfully q/q, and vols were strong on good demand. Asia-Pac costs were higher than our est. though offset by better than expected volumes."
"We reduce our 2012e EPS to $8.63 from $8.90 (decrease mostly due to 1Q miss), and reduce our 2Q12e EPS to $2.43 from $2.72. We do expect a significant improvement in North American iron ore volumes and Canadian and Australian iron ore pricing, in 2Q."
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 $67.11 yesterday.
Analyst, Shneur Z. Gershuni, said, "CLF missed cons/UBSe EPS with an adj. $0.85 in 1Q. Canadian iron ore costs continue to disappoint and vols were light. Coal sales were solid, but pricing disappointed; mgmt reduced guided rev/t for the remainder of ‘12. That said, U.S. iron ore costs decreased meaningfully q/q, and vols were strong on good demand. Asia-Pac costs were higher than our est. though offset by better than expected volumes."
"We reduce our 2012e EPS to $8.63 from $8.90 (decrease mostly due to 1Q miss), and reduce our 2Q12e EPS to $2.43 from $2.72. We do expect a significant improvement in North American iron ore volumes and Canadian and Australian iron ore pricing, in 2Q."
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 $67.11 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
- Freedom Broker Upgrades Serve Robotics (SERV) to Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
UBSSign 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!
