- Cliffs Natural Resources (CLF -4.4%) gets an upgrade today as iron ore miners are pounded, as the generally bearish Gordon Johnson of Axiom Capital raises shares to Hold from Sell on valuation.
- While acknowledging the potential for further downside, Axiom views CLF's risk/reward as balanced at current share price/valuation levels after the stock have been more than cut in half since July; the firm sees increased chatter around asset divestitures and management plans fueling volatility around the stock over the near term.