
Cleveland-Cliffs (CLF) Stock Forecast & Price Target
Cleveland-Cliffs (CLF) Analyst Ratings
Bulls say
Cleveland-Cliffs is in a strong fundamental position heading into 2026, with improved market conditions and a more efficient operating model, which is expected to be reflected in its upcoming earnings report. Despite a positive outlook, the stock may have already priced in normalized earnings and valuations, leading to a downgrade to Neutral. However, potential tailwinds such as a longer deleveraging story and increased market share in the auto industry could drive further upside, but downside risks, including trade policy changes and fluctuating steel prices, must also be considered.
Bears say
Cleveland-Cliffs is a slump-rolled steel producer and manufacturer of iron ore pellets in North America, with a majority of its revenue coming from the United States. Despite being organized into four operating segments, the company operates through one reportable segment - Steelmaking. Its recent financial performance has been lackluster, with Q1'26 guidance indicating significant downside risks and Q4'25 results underwhelming due to subdued demand. The stock has sold off due to a lack of clarity on its POSCO MOU, with guidance implying a potential material downward revision and negative free cash flow. Additionally, a pivot towards higher auto volumes and a shift towards value-added flat-rolled products may lead to an increase in segment unit cash costs, and there are potential risks related to its capital structure and credit market health.
This aggregate rating is based on analysts' research of Cleveland-Cliffs and is not a guaranteed prediction by Public.com or investment advice.
Cleveland-Cliffs (CLF) Analyst Forecast & Price Prediction
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