BMO Capital Markets Has Outperform on Cliffs Natural Resources

BMO Capital Markets is out with a research report on Cliffs Natural Resources (NYSE: CLF) and it has an Outperform rating and $110 price target on shares.

In a note to clients, BMO Capital Markets writes, "Cliffs is poised for growth following its acquisition of Bloom Lake in early 2011 and Ontario chromite properties in 2010. The share price has fallen despite iron ore and coal pricing remaining strong."

Shares of CLF closed at $55.66 yesterday.