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Cliffs Natural Resources (CLF) -1.8% premarket after shares are downgraded to Underperform from...

Cliffs Natural Resources (CLF) -1.8% premarket after shares are downgraded to Underperform from Neutral with a $16 price target (from $24) at BAML, which notes CLF's high cost of iron ore and met coal production. The firm thinks CLF will struggle to compete with new Australia capacity but sees no reason for a liquidity panic.
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Comments (1)
  • dreamin
    , contributor
    Comments (93) | Send Message
     
    Did anyone just notice that all BAML did was bracket the price action of the last several months and call it research?
    19 Jun 2013, 08:25 AM Reply Like
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