CLF Stock: From $18.21 To $19.97 (9.67% Increase) Intraday Explanation

By Amit Chowdhry ● May 4, 2021
  • The stock price of Cleveland-Cliffs Inc (NYSE: CLF) increased from $18.21 to $19.97 (up 9.67%) during intraday trading. This is why it happened.

The stock price of Cleveland-Cliffs Inc (NYSE: CLF) increased from $18.21 to $19.97 (up 9.67%) during intraday trading. Investors appear to be responding to a research report 

Cleveland-Cliffs was upgraded to an “Outperform” rating from “Neutral” by Credit Suisse. And Credit Suisse analyst Curt Woodworth assigned CLF a $24 target (up from $21).

Woodworth noted that the company has put together 3 best-in-class mining and steel companies in order to create a powerhouse steel operation. And now Woodworth believes that Cleveland-Cliffs is well-balanced and that the company’s steel product portfolio is diversified across the whole flat rolled market, including tin and plate. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.