Cleveland Cliffs Inc (CLF)

[abracky]

Sachs keeps shorting.
Billion dollar company.

Cleveland-Cliffs falls as price target lowered to $27 at Goldman Sachs

May 31, 2022 1:35 PM ETCLFBy: Pranav Ghumatkar, SA News Editor8 Comments

Goldman Sachs analyst Emily Chieng lowered the firm's price target on Cleveland-Cliffs (CLF -4.9%) to $27 from $36 and keeps a Buy rating on the shares.

Despite the steel equities already falling 20%-30% from recent peaks, the analyst sees potential for the stock to reflect near-term demand headwinds as seen during the last two cycles.

Since the start of 2022, Cleveland-Cliffs shares were up around 7%, and over a period of one year, shares were up around 14%.