Deutsche Bank Upgrades Cliffs Natural Resources (CLF)

Deutsche Bank Upgrades Cliffs Natural Resources (CLF)

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Deutsche Bank reported on Tuesday that they have upgraded mining company, Cliffs Natural Resources Inc(CLF) to a “Buy.”

The firm has increased their rating for CLF from a “Hold” to a “Buy,” and has increased the company’s price target from $40 to $48. This price target suggests a 33% increase from the stock’s current price of $36.14.

Analysts see the company succeeding in 2013 with iron ore prices and action from management.

Cliffs Natural Resources shares were down 41 cents, or -1.13% during premarket trading Tuesday. The stock has declined -48% in the past year.

The Bottom Line
Shares of Cliffs Natural Resources (CLF) have a 6.92% dividend yield, based on last night’s closing stock price of $36.14. The stock has technical support in the $30-$33 price area. If the shares can firm up, we see overhead resistance around the $39-$40 price levels.

Cliffs Natural Resources Inc(CLF) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.