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Cliffs Natural Resources Started as an “Outperform” at Credit Suisse (CLF)

Coal and iron ore mining giant Cliffs Natural Resources Inc ( CLF ) on Friday saw its coverage initiated with an "Outperform" rating by analysts at Credit Suisse.

The firm also set a $90 price target on CLF shares, suggesting a healthy 30% upside to the stock's Thursday closing price of $69.08.

Credit Suisse noted that Cliffs' valuation appears cheap compared with its peers in the U.S. metals sector.

Cliffs Natural Resources shares rose $1.28, or +1.9%, in premarket trading Friday.

The Bottom Line

Shares of Cliffs Natural Resources ( CLF ) have a 1.63% dividend yield, based on last night's closing stock price of $68.63. The stock has technical support in the $60 price area. If the shares can firm up, we see overhead resistance around the $75-$77 price levels.

Cliffs Natural Resources Inc ( CLF ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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