Cleveland-Cliffs Gains 27% Monthly Surge, GLJ Research Raises Target to $15.01
CLF•GLJ Research set a $15.01 price target for Cleveland-Cliffs, implying an 18.38% upside after shares rose 27% over the past month to $14.43. Analysts forecast Q2 EPS of –$0.14, a 72% year-over-year rise, and $5.21 billion revenue, up 5.49%, as domestic steel benefits from lowest import levels since 2008.
1. Analyst Price Target and Stock Performance
Cleveland-Cliffs was assigned a $15.01 price target by GLJ Research, reflecting an 18.38% upside from recent levels. Over the past month, the stock climbed 27%, reaching $14.43 per share.
2. Q2 Earnings and Revenue Expectations
Analysts expect second-quarter earnings of –$0.14 per share, a 72% improvement year over year, while forecasting revenue of $5.21 billion, up 5.49% from the prior-year quarter.
3. Benefit from Trade Policies
Domestic steel production benefits from import restrictions that have pushed U.S. steel imports to their lowest levels since the 2008 financial crisis, bolstering North American flat-rolled steel producers like Cleveland-Cliffs.
