Citi Downgrades Cleveland-Cliffs (CLF) to Neutral
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Nucor (NUE) raised, Cleveland-Cliffs cut as Citi remains mid-term steel bulls
March 13, 2024 1:28 PM EDTNucor (NYSE: NUE) was upgraded to Buy at Citi on Wednesday, with the firm also downgrading Cleveland-Cliffs (NYSE: CLF) to Neutral in a research note.
The firm assigned NUE a new price target of $240 per share, up... More
Citi Upgrades Nucor (NUE) to Buy
March 13, 2024 4:35 AM EDT(Updated - March 13, 2024 4:41 AM EDT)
Citi analyst Alexander Hacking upgraded Nucor (NYSE: NUE ) from Neutral to Buy with a price target of $240.00 (from $180.00).
The analyst comments "We take a deeper look at NUE multiples. Mid-cycle ROIC of 15-20% justifies 30-40% higher multiples, in our view, potentially... More
