---
title: "研究警报：CFRA 维持对 Cleveland Cliffs 公司股票的持有评级"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/284026531.md"
description: "CFRA 对 Cleveland-Cliffs Inc.维持持有评级，将 12 个月目标价下调 2 美元至 10 美元，基于 2027 年的企业价值/息税折旧摊销前利润（EV/EBITDA）为 8.0 倍。2026 年的每股亏损预估维持在 0.39 美元，而 2027 年的每股收益预测下调至 0.55 美元。尽管预计国内钢铁价格和需求将有所改善，但对高杠杆和执行风险的担忧依然存在。预计从 2026 年第二季度开始将出现正现金流，第三季度预计将展现出全部盈利潜力。CFRA 建议在持续的 EBITDA 增长得到证明之前维持持有评级"
datetime: "2026-04-24T14:45:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284026531.md)
  - [en](https://longbridge.com/en/news/284026531.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284026531.md)
---

# 研究警报：CFRA 维持对 Cleveland Cliffs 公司股票的持有评级

10:45 AM EDT, 04/24/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We cut our 12-month target by $2 to $10, on an EV/EBITDA of 8.0x our 2027 EBITDA estimate, below CLF's three-year avg. fwd EV/EBITDA of 8.6x and below peers' avg. of 8.8x. We keep our 2026 estimate at a loss per share of $0.39 and we lower our 2027 EPS forecast by $0.26 to $0.55. We forecast sequential improvement through 2026 as trade enforcement supports domestic steel pricing and demand strengthens, particularly in automotive. We anticipate positive free cash flow generation starting in Q2 2026, with Q3 representing the company's full earnings power given minimal outages. Key tailwinds include steel import volumes at post-financial crisis lows, aluminum-to-steel substitution gaining momentum across automotive and other sectors, and extended lead times reflecting healthy market conditions. However, we remain cautious on CLF's elevated leverage (net debt of $7.7 billion) and execution risk on the pending POSCO transaction. We think a Hold rating is appropriate until CLF demonstrates sustained EBITDA growth.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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