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via seekingalpha.comMarkets

Barclays upgrades Cleveland-Cliffs and Reliance after sector selloff

FROM THE WIRE · SEEKINGALPHA.COM

[roll of steel sheet in factory] PhonlamaiPhoto/iStock via Getty Images Cleveland-Cliffs (CLF [https://seekingalpha.com/symbol/CLF]) and Reliance (RS [https://seekingalpha.com/symbol/RS]) rose 0.7% and 1%, respectively, in Thursday's trading as Barclays upgraded the steel…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishThe upgrade of two steel producers can shift expectations for the steel sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Barclays raises Cleveland-Cliffs to Equal Weight with a 15 dollar target.
  2. 02Reliance is upgraded to Overweight with a 507 dollar target.
  3. 03The analyst cites tight supply, strong demand and spot steel prices near 1,300 dollars per ton.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Cleveland-Cliffs Inc.CLFStock13.25 USD-0.08%today +0.84%Positive Reliance Steel & Aluminum Co.RSStock433.45 USD-0.27%today +0.83%Positive
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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