Analysts Are Neutral on These Materials Stocks: Cf Industries Holdings (CF), Cleveland-Cliffs (CLF)We are updating our estimates to include the latest company guidance following 2Q25 earnings. We now forecast EBITDA of $128m in 3Q25 (-31% vs. previous forecast), $250m in 2025 (-60%), $1,881m in 2026 (-3%), $1,919m in 2027 (-3%) and $2,113m in 2028 (-4%). We now model an Adj. EPS of -$0.46 in 3Q25, -$2.22 in 2025, $0.42 in 2026, $0.57 in 2027, and $1.23 in 2028.