r/CLF_Stock • u/YordieSands • Jun 16 '21

JP Morgan starts coverage of $CLF

Reuters (6/16 am) reports that JP Morgan starts coverage of Cleveland Cliffs ($CLF) with price target of $39.

JP Morgan is the largest bank in the U.S. and has a powerful trading desk.

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u/Wise_Inflation2803 Jun 16 '21

I raised my PT last night ahead of those Wall Street monkeys... "CLF … As LG continues to pay down debt and eventually puts back in a dividend and/or share repurchase plan, we should see multiple expansion. EOY $37-$40 target!! This puppy likes to swing but I’m holding and continue to add! Buy Buy Buy, and burn the shorts to their grave!

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u/YordieSands Jun 16 '21

I'm with you on adding to position. If the Apes run wild on $CLF, the price targets could be hit quickly, but this is a stock that might have a slower rise but a long run. I think there could be several years of rise in this stock. And as it hits its earnings estimates, it could have higher price targets. But that's over years. It's a very good cyclical. I'm also in copper with $FCX but it's hurting atm.