5 Best Steel Stocks to Buy Amid Upcoming Infrastructure, Construction Boom

3. Cleveland-Cliffs Inc. (NYSE: CLF)

Number of Hedge Fund Holders: 36

GLJ Research’s Gordon Johnson recently maintained a Buy rating on the stock and increased his price target to $28.35 from $22.09.  The analyst said that the stock trading at around 0.6x forward 2022 and 2023 EBITDA shows that it has a “substantial upside potential when extrapolating today’s prices.”

Cleveland-Cliffs (NYSE:CLF) is in the spotlight on June 15 after the company upped its guidance for adjusted EBITDA for the current quarter and full year.  

As of the end of the first quarter of 2021, Fisher Asset Management owns 13 million shares of CLF worth $262.8 million. CLF accounts for 0.18% of Fisher Asset’s total portfolio.