Research Alert: CFRA Maintains Hold Opinion On Shares Of Cleveland-cliffs Inc.
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CFRA maintains a Hold opinion on Cleveland-Cliffs Inc., lowering the 12-month target by $2 to $10 based on an EV/EBITDA of 8.0x for 2027. The 2026 loss per share estimate remains at $0.39, while the 2027 EPS forecast is reduced to $0.55. Despite expected improvements in domestic steel pricing and demand, concerns about high leverage and execution risks persist. Positive cash flow is anticipated starting Q2 2026, with Q3 expected to show full earnings potential. CFRA advises a Hold rating until sustained EBITDA growth is demonstrated.
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