GLJ Research analyst Gordon Johnson raised the firm’s price target on Cleveland-Cliffs (CLF) to $9.52 from $5.75 and keeps a Sell rating on the shares ahead of the Q4 report. The shares are already pricing in “a lot of good news,” the analyst tells investors in a research note. GLJ says that even after last year’s “protectionism-fueled” surge in U.S. steel prices, the best companies in the sector “disappointed.” It views Cleveland-Cliffs as the “worst house in a troubled neighborhood.”
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Read More on CLF:
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