Jefferies analyst Christopher LeFemina has downgraded Cleveland-Cliffs (CLF, Financial) from a "Buy" rating to a "Hold" rating. This change reflects a recent shift in the analyst's outlook for the company.
In addition to the rating downgrade, Jefferies has also lowered the price target for Cleveland-Cliffs (CLF, Financial) from $10.00 to $6.00. This represents a 40% decrease in the price target, indicating a more cautious stance on the stock's future performance.
This downgrade and the adjusted price target are significant as they come from Jefferies, a notable authority in stock analysis. The revised price target of $6.00 is currently the analyst's expectation for the stock in the near term.
Investors holding Cleveland-Cliffs (CLF, Financial) should take note of these changes as they could impact market perceptions and trading strategies. The shift from a "Buy" to "Hold" rating suggests a reevaluation of potential growth prospects for Cleveland-Cliffs (CLF) in the current market environment.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 11 analysts, the average target price for Cleveland-Cliffs Inc (CLF, Financial) is $9.52 with a high estimate of $15.11 and a low estimate of $5.00. The average target implies an upside of 60.33% from the current price of $5.94. More detailed estimate data can be found on the Cleveland-Cliffs Inc (CLF) Forecast page.
Based on the consensus recommendation from 14 brokerage firms, Cleveland-Cliffs Inc's (CLF, Financial) average brokerage recommendation is currently 2.9, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Cleveland-Cliffs Inc (CLF, Financial) in one year is $15.10, suggesting a upside of 154.21% from the current price of $5.94. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Cleveland-Cliffs Inc (CLF) Summary page.
