Cleveland-Cliffs price target raised to $11 from $7.50 at Citi

Citi analyst Alexander Hacking raised the firm’s price target on Cleveland-Cliffs (CLF) to $11 from $7.50 and keeps a Neutral rating on the shares. The company reported improved Q2 results but is still operating below free cash flow breakeven, the analyst tells investors in a research note. Citi updated its model for Cleveland-Cliffs post the earnings report