Citi Upgrades Steel Dynamics (STLD) to Buy, 'a good combination of growth and value'
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Cleveland-Cliffs and Steel Dynamics raised as Citi sees flat rolled steel prices rebounding
September 25, 2023 12:03 PM EDTCiti analyst Alexander Hacking upgraded steel stocks Cleveland-Cliffs (NYSE: CLF) and Steel Dynamics (NASDAQ: STLD) to Buy from Neutral in a note Monday, stating that flat rolled steel prices are at a floor.
The CLF and STLD... More
Citi Upgrades Cleveland-Cliffs (CLF) to Buy, 'commercial proposition of 50% market share in sheet remains very powerful'
September 25, 2023 8:50 AM EDT(Updated - September 25, 2023 8:51 AM EDT)
Citi analyst Alexander Hacking upgraded Cleveland-Cliffs (NYSE: CLF) from Neutral to Buy with a price target of $22.00.
The analyst comments "CLF CLF trades at 4.7x EBITDA and 15% FCF on Citi 2024E. Estimates are underpinned by assumption that... More
