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Cliffs Natural Resources (CLF) is cut to Sell from Hold at Dahlman Rose, which believes the...

Cliffs Natural Resources (CLF) is cut to Sell from Hold at Dahlman Rose, which believes the run-up in iron ore prices has run its course with CLF most vulnerable to the risk of a quick reversal. The firm also cuts BHP Billiton (BHP) from Buy to Hold to reflect weaker price expectations across its product spectrum, and lowers its price target for Rio Tinto (RIO) to $70 from $95. CLF -1.2% premarket.
Comments (5)
  • Deutsche Bank just upgraded CLF to buy. As the late Mayor Daly said; "Duh experts. Whadda they know?"
    15 Jan 2013, 08:55 AM Reply Like
  • "Duh experts. Whadda they know?" Agreed with one twist, Joe. Who says they are experts? What makes Dahlman Rose something special? I can count the true number of experts on one hand. Churn; that's how the so called experts make their money. Upgrade, downgrade, buy, sell, hold; one could go crazy. Yawn.
    15 Jan 2013, 12:20 PM Reply Like
  • I concede your point G.Ray. But any chance I get to quote the late Mayor Daly I always take.
    16 Jan 2013, 08:15 AM Reply Like
  • Today's Announcement: You have to question this dowgrade:

     

    Rio to boost iron ore production as prices surge. Rio Tinto (RIO) intends to expand its iron ore mine in the remote Australian region of Pilbara to 360M metric tons a year by mid-2015 from 290M by the end of 2013. In 2012, Rio's overall production rose 4% to 253M tons, slightly above its guidance of 250M tons. The company is benefiting from an 80% recovery in iron-ore prices since September as Chinese steel mills re-enter the market on an improving economic picture.
    15 Jan 2013, 10:49 AM Reply Like
  • Iron ore does not have to keep rising for CLF and others to make money. It only has to stay about where it is. This downgrade makes no sense.
    15 Jan 2013, 11:16 AM Reply Like
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