GLJ Research double upgraded Cleveland-Cliffs (CLF) to Buy from Sell with a $14.27 year-end 2025 price target While the firm believes “strongly” that the U.S. economy is in “much worse shape than many pundits acknowledge,” with Trump set to take office and his pro-tariff policies set to be implemented across a number of industries, likely including the steel sector, GLJ sees a move up in U.S. hot rolled coil steel prices as likely in near-term given what it dubs the “Trump put.”
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