Nomura Securities Starts Cliffs Natural Resources (CLF) at Neutral

Nomura Securities initiates coverage on Cliffs Natural Resources (NYSE: CLF) with a Neutral. PT $68.00.

Analyst, Curt Woodworth, said, "Our positive medium-term expectations for iron ore prices is mitigated by the company’s significant exposure to the low-growth U.S. market and weaker outlook for pellet premiums mainly due to weakness in Europe. FY12E/13E revenues $6679m / $7101m; 2012E/2013E EPS $9.80 / $10.50, respectively."

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 $64.87 yesterday.

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