2026년 2월 23일 · Unknown · financial · 출처 Yahoo Finance
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Cleveland Cliffs has seen its modeled fair value nudged from US$13.44 to US$13.41, a very small 0.2% adjustment that still matters for how analysts frame upside or downside. That tweak sits alongside a split research narrative, with some analysts pointing to tariff support and auto wins, while others focus on valuation constraints, cost pressures, and insider selling. As you read on, you will see how these shifting targets and arguments shape the evolving story and how you can keep track of it.
Stay updated as the Fair Value for Cleveland-Cliffs shifts by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Cleveland-Cliffs.
What Wall Street Has Been Saying
🐂 Bullish Takeaways
Morgan Stanley shifted Cleveland Cliffs to Overweight from Equal Weight with a higher price target of US$17, pointing to tariff support, capacity moves by domestic mills, and what it calls a potentially transformational opportunity for the company. Citi raised its price target by US$2, which signals a more constructive stance on valuation and execution compared with some of the more cautious voices.
🐻 Bearish Takeaways
KeyBanc moved the stock to Sector Weight from Overweight, highlighting valuation constraints and modestly higher costs, even as positives such as auto contract wins, liquidity, and asset sales are acknowledged. GLJ Research keeps a Sell rating and lifted its target to US$9.52 from US$5.75, arguing that shares already reflect a lot of good news and describing Cleveland Cliffs as the worst house in a troubled neighborhood, while also flagging a CEO stock sale after the Q4 report. Seaport Research downgraded Cleveland Cliffs to Neutral and expressed a more bearish stance overall, reinforcing the idea that upside may be limited at current pricing.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!NYSE:CLF 1-Year Stock Price Chart
We've flagged 3 risks for Cleveland-Cliffs. See which could impact your investment.
What's in the News
White House officials said existing tariffs on steel, aluminum and related metal products will stay in place unless President Trump personally announces changes, with Cleveland-Cliffs among the companies identified as exposed to metal trade policy. A Trump administration official described current metal trade actions as part of a "nimble and nuanced tariff agenda" that targets higher U.S. output in steel, aluminum and other manufacturing industries that include producers such as Cleveland-Cliffs. Separate reporting indicated President Trump is planning a review that could reduce some tariffs on steel and aluminum goods, potentially exempting certain items from tariffs of up to 50% and focusing more targeted security probes on specific products, again citing Cleveland-Cliffs among the affected steel names. Cleveland-Cliffs reported no share repurchases from October 1, 2025 to December 31, 2025 and said it has completed buybacks totaling 7,507,249 shares, or 1.58% of its shares, for US$124.22m under the program announced on April 22, 2024.
Story Continues
How This Changes the Fair Value For Cleveland-Cliffs
Fair value updated from US$13.44 to US$13.41, a change of about 0.2%. Revenue growth assumption adjusted from 6.60% to 6.00%. Net profit margin assumption adjusted from 3.36% to 4.24%. Future P/E assumption adjusted from 11.79x to 13.80x. Discount rate assumption adjusted from 10.32% to 11.48%.
Never Miss an Update: Follow The Narrative
Narratives tie Cleveland-Cliffs' business story to explicit forecasts for revenue, earnings, and fair value as new data and research come through. They help you see how changing assumptions about tariffs, steel demand, and costs feed into a numbers based view of the company.
Head over to the Simply Wall St Community and follow the Narrative on Cleveland-Cliffs to stay up to date on:
How U.S. steel tariffs, import levels, and OEM reshoring are modeled to affect Cleveland-Cliffs' volumes, pricing power, and margins. The expected impact of cost reductions, asset sales, and a shift toward higher margin stainless and specialty steels on earnings and financial resilience. Key risks around dependence on protectionist trade policy, blast furnace technology in a decarbonizing industry, leverage, and heavy exposure to automotive demand.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include CLF.
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