As previously reported, Wells Fargo upgraded Cleveland-Cliffs (CLF) to Equal Weight from Underweight with a price target of $12, up from $11, after estimates rise to reflect newly increased sheet steel forecasts for 2026. Shares look appropriately valued relative to the new price target using an unchanged basis but higher 2026 EBITDA, Wells argues.
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Read More on CLF:
- Cleveland-Cliffs upgraded to Equal Weight from Underweight at Wells Fargo
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