Why Cleveland-Cliffs Stock Rocketed 10% in Morning Trading Today

Reuben Gregg Brewer, The Motley Fool
·2-min read
Why Cleveland-Cliffs Stock Rocketed 10% in Morning Trading Today

Shares of Cleveland-Cliffs (NYSE: CLF), one of North America's largest integrated steel manufacturers, rose by just over 10% in morning trading on Tuesday. An analyst at Credit Suisse Group upgraded Cleveland-Cliffs from neutral to outperform, and raised the price target on the stock from $21 to $24. Cleveland-Cliffs' stock closed out Monday's trading session at roughly $18.20 per share, so even after Tuesday's notable gain, there is still material upside in Credit Suisse Group's call.