US Steel, Cleveland-Cliffs move in opposite direction as Wolfe Research flips ratings [Seeking Alpha]
Cleveland-Cliffs Inc. (CLF)
Last cleveland-cliffs inc. earnings: 2/20 07:00 am
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US:NYSE Investor Relations:
clevelandcliffs.com/investors/overview/default.aspx
Company Research
Source: Seeking Alpha
the stock looks "relatively cheap on a standalone basis" assuming no deal with Nippon Steel. President Biden's explicit opposition to a Nippon Steel takeover seriously damaged any chance for a deal completion, although a $55/share takeover could be consummated after the presidential election, Wolfe's Timna Tanners says. Also US Steel ( X ) shares look attractive relative to peers trading at much steeper multiples, Tanners says, adding that free cash flow in 2025 should improve after unusually high recent capex. At the same time, Cleveland-Cliffs ( CLF as Tanners cut to Underperform from Peer Perform with an $18 PT, after the stock spiked 16% during the past two months despite declining steel prices and earnings that were revised lower. The analyst says she likes Cliffs' ( CLF ) free cash flow profile but thinks buybacks could be limited due to the company's stated intentions of pursuing more M&A. Recommended For You More Trending News Recommended For You More Trending
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CLF
News
- Cleveland-Cliffs Inc. (NYSE: CLF) had its price target lowered by analysts at Morgan Stanley from $20.00 to $19.00. They now have an "equal weight" rating on the stock.MarketBeat
- Cleveland-Cliffs Inc. (NYSE: CLF) had its price target lowered by analysts at B. Riley from $25.00 to $24.00. They now have a "buy" rating on the stock.MarketBeat
- Norfolk Activist Wins Support From Glass Lewis for CEO Ouster [BNN Bloomberg (Canada)]BNN Bloomberg
- UPDATE 1-Cleveland-Cliffs backs Ancora in Norfolk Southern proxy battle, Bloomberg says [Yahoo! Finance]Yahoo! Finance
- Cleveland-Cliffs backs Ancora in Norfolk Southern proxy battle, Bloomberg says [Yahoo! Finance]Yahoo! Finance
CLF
Earnings
- 4/22/24 - Miss
CLF
Sec Filings
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- 4/26/24 - Form 4
- CLF's page on the SEC website