Cliffs Natural Resources (CLF) flat on downgrade
Normal 0 false false false MicrosoftInternetExplorer4 Cliffs Natural Resources Inc (NYSE: CLF) shares took on three cents to $29.56, on word the company is downgraded with a reduced $32 target price (from $45) by RBC Capital because of the firm’s more subdued outlook for coal and iron ore, the loss of growth at Bloom Lake, expectation of further negative guidance revisions at year-end, and a possible dividend cut. Much of the bad news is already priced in, but upside is limited. Share volume was 507,000 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;}
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