Cliffs Natural Resources (CLF) NewsBite - CLF Rises on Buy Rating

Posted: Tuesday, May 26, 2009 12:46 PM EDT

Cliffs Natural Resources (NYSE: CLF) opened at $23.06. So far today, the stock has hit a low of $22.88 and a high of $24.49. CLF is now trading at $24.30, up $1.16 (5.01%). Over the last 52 weeks the stock has ranged from a low of $11.80 to a high of $121.95. CLF shares are rising today after analysts at Merrill Lynch initiated coverage on the stock with a Buy rating and $30 price target. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for CLF. If you are looking for a hedged play on CLF the stock seems like it could be a candidate for a June out-of-the-money bull-put credit spread below the 21 range. [ABR-Seven Summits Strategic Investments NewsBite]

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