Cleveland-Cliffs Inc. (NYSE:CLF) is included among the 10 Best Stocks Under $15 to Buy Right Now.
On May 22, Barclays initiated coverage of Cleveland-Cliffs Inc. (NYSE:CLF) with an Underweight rating
It also set a $9 price target on the stock. The firm said it was encouraged by Cleveland-Cliffs’ cost improvement efforts and expected margin gains from the expiration of the legacy slab contract. At the same time, Barclays noted that the shares deserved a lower valuation multiple compared to peers because of the company’s higher leverage.
During the Q1 2026 earnings call, Chairman, President, and CEO Lourenco Goncalves said the first quarter marked the beginning of a sustained improvement trend he expected to continue through the rest of the year. He added that results would have been stronger if not for several one-time items, with higher energy costs being the biggest headwind. Goncalves also said the company’s order book remained full and noted that automotive OEMs were sourcing more steel from Cliffs.