Cliffs Natural Resources (CLF) NewsBite - CLF Upgraded By BMO Capital Markets

Posted: Thursday, July 30, 2009 1:42 PM EDT

Cliffs Natural Resources (CLF) was upgraded today by analysts at BMO Capital Markets and the stock is now at $27.07, up $2.22 (8.93%) on volume of 4,879,118 shares traded. The brokerage upgraded CLF to Outperform to Market Perform. Over the last 52 weeks the stock has ranged from a low of $11.80 to a high of $116.14. Cliffs Natural Resources stock has been showing support around $24.03 and resistance in the $26.17 range. Technical indicators for the stock are neutral 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 September out-of-the-money bull-put credit spread below the 23 range. [ABR-Seven Summits Strategic Investments NewsBite]

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