Market Overview

UPDATE: Macquarie Upgrades Cliffs Natural Resources

Related CLF
CNBC's Stock Pops & Drops From December 17
Mid-Afternoon Market Update: Dow Jumps Over 200 Points; Volcano Shares Climb On Acquisition News

In a report released Monday, Macquarie analyst Aldo Mazzaferro upgraded Cliffs Natural Resources (NYSE: CLF) from Underperform to Neutral and raised its price target from $10 to $17.

Analysts at Macquarie favor the positive outcome on results in the company's proxy battle on July 29. Cliffs Natural Resources gave guidance of recovery in its U.S. Iron Ore division in the first half of 2014 and reported cost reductions in its Eastern Canada mine in the company's most recent quarter.

The $17 price target is given by EPS 2014/2015/2016 estimates of $0.30/$0.45/$0.70 from its previous $10/$0.25/$0.45, respectively.

Latest Ratings for CLF

DateFirmActionFromTo
Dec 2014Credit SuisseMaintainsUnderperform
Nov 2014Deutsche BankDowngradesBuyHold
Nov 2014CitigroupMaintainsSell

View More Analyst Ratings for CLF
View the Latest Analyst Ratings

Posted-In: Aldo Mazzaferro MacquarieUpgrades Price Target Analyst Ratings

 

Related Articles (CLF)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional