UPDATE: BofA/Merrill Lynch Downgrades Cliffs Natural Resources (CLF) to Underperform
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Price: $10.55 -5.55%
Rating Summary:
5 Buy, 16 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
Rating Summary:
5 Buy, 16 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
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(Updated - June 19, 2013 8:04 AM EDT)
BofA/Merrill Lynch downgraded Cliffs Natural Resources (NYSE: CLF) from Neutral to Underperform with a price target of $16 (from $24). Analyst Timna Tanner noted the high cost of iron ore and met production at Cliffs, and he thinks the company will struggle to compete with new Australia capacity. Despite the downgrade, he sees no reason for a "liquidity panic."
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 $18.59 yesterday.
BofA/Merrill Lynch downgraded Cliffs Natural Resources (NYSE: CLF) from Neutral to Underperform with a price target of $16 (from $24). Analyst Timna Tanner noted the high cost of iron ore and met production at Cliffs, and he thinks the company will struggle to compete with new Australia capacity. Despite the downgrade, he sees no reason for a "liquidity panic."
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 $18.59 yesterday.
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