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Research Alert: CFRA Maintains Hold Opinion On Shares Of Cleveland-cliffs Inc.
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Research Alert: CFRA Maintains Hold Opinion On Shares Of Cleveland-cliffs Inc.
Oct 22, 2025 7:44 AM

10:25 AM EDT, 10/22/2025 (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 increase our 12-month target by $4 to $15, assuming an EV/EBITDA of 8.5x our 2026 EBITDA estimate, a premium to CLF's three-year average forward EV/EBITDA of 7.8x and the peer group average of 7.7x. This premium reflects differentiating factors that have strengthened following Q3 results, including CLF's dominant position in higher-margin automotive steel markets, with secured multi-year contracts providing improved earnings visibility and the pending transformational partnership with a major global steelmaker expected to be accretive to shareholders. We widen our 2025 loss per share estimate by $0.52 to -$2.28 and we trim our 2026 EPS forecast by $0.18 to $0.69. While Q3 marked a clear inflection point for CLF's automotive business and strategic positioning, we maintain our Hold rating pending greater clarity on partnership execution and sustained demand recovery across construction and general manufacturing end markets. The company's elevated debt levels and execution risks around multiple strategic initiatives warrant a cautious approach despite the improved operational momentum.

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