BMO Capital Markets is raising its price target on shares of Cliffs Natural Resources CLF to $110 from $100, and it has an Outperform rating on shares.
In a note to clients, BMO Capital Markets writes, "Positive. BMO Research has adopted Phase III at Bloom Lake, taking
production to 24Mt in 2016. This has lifted NPV/share slightly to US$103.93 from US$100.42. Additionally, a material change in U.S. iron pellet pricing in coming years, to global levels, has substantial improved longer-term profits and
cash flow. This has taken estimated NPV/share to US$122.75 from US$103.93, for a total 22% gain."
Shares of CLF closed at $90.39 yesterday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in