The Rising Influence of Rising Affluence

[DewDiligence]

Merriman likes CLF:

http://online.barrons.com/article/SB124482667820710405.html

We expect Cliffs to earn 82 cents per share in fiscal 2009 and $3.82 per share in fiscal 2010 versus consensus of 7 cents and $2.20, respectively. We assume North American iron-ore sales of 19 million tons in 2009 and 23 million tons in 2010. We assume the company's met-coal operations will generate a loss in 2009 and break-even in 2010. Cliffs' shares are currently an inexpensive way to gain exposure to the eventual recovery of global steel production, which we believe is currently reflected in mini-mill valuations.