---
title: "研究警報：CFRA 維持對 Cleveland Cliffs 公司股票的持有評級"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/284026531.md"
description: "CFRA 對 Cleveland-Cliffs Inc.維持持有評級，將 12 個月目標價下調 2 美元至 10 美元，基於 2027 年的企業價值/息税折舊攤銷前利潤（EV/EBITDA）為 8.0 倍。2026 年的每股虧損預估維持在 0.39 美元，而 2027 年的每股收益預測下調至 0.55 美元。儘管預計國內鋼鐵價格和需求將有所改善，但對高槓杆和執行風險的擔憂依然存在。預計從 2026 年第二季度開始將出現正現金流，第三季度預計將展現出全部盈利潛力。CFRA 建議在持續的 EBITDA 增長得到證明之前維持持有評級"
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)
---

# 研究警報：CFRA 維持對 Cleveland Cliffs 公司股票的持有評級

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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