Cliffs Natural Resources (CLF) -13.1% premarket after shares are downgraded to Hold from Buy...

|About: Cliffs Natural Resources Inc. (CLF)|By:, SA News Editor

Cliffs Natural Resources (CLF) -13.1% premarket after shares are downgraded to Hold from Buy with a $38 price target, down from $48, at Deutsche Bank following its Q4 loss and falling revenues. The firm questions the timing of CLF's share issuance after a big dividend cut and since 2013 cash flow generation is likely to increase. Citi also cuts shares to Neutral from Buy.