Cleveland-Cliffs is surging well past its steel peers on Tuesday with no confirmed catalyst behind the move, and the gap between its year-to-date performance and Nucor's tells a story about where the
Nucor and Steel Dynamics shares are pulling back after Q3 guidance missed estimates, but higher steel prices, strong backlogs, and wide margins support analysts' bullish price targets.
Cleveland-Cliffs (CLF) concluded the recent trading session at $12.07, signifying a -3.44% move from its prior day's close.
Analysts raised targets for INSP, SECZ, CLF and WAT, while cutting targets for CRDO, CL and TTMI; ratings remained unchanged.
GLJ Research analyst Gordon L. Johnson maintains Cleveland-Cliffs (NYSE:CLF) with a Buy and raises the price target from $15.6 to $17.48.
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