Clf stock price forecast historical correlation models in clf

Historical correlation models in clf stock price forecast point to outperformance during periods of rising commodity prices. The 50-day moving average currently sits above the 200-day, signaling sustained bullish momentum. As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued. A number of other equities research analysts have also weighed in on the company. Morgan Stanley dropped their price target on Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. B. Riley restated a "buy" rating and set a $17.00 price target (down previously from $20.00) on shares of Cleveland-Cliffs in a research note on Wednesday, April 23rd. Finally, Glj Research dropped their price target on Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Cleveland-Cliffs presently has an average rating of "Moderate Buy" and a consensus price target of $15.02. Commodity analysts in clf stock price forecast research underline that iron ore spot prices near $115 per metric ton are historically supportive for CLF’s margins and valuation expansion.