KeyBanc Upgrades Cleveland-Cliffs (CLF), Citing Automotive Strength

Cleveland-Cliffs Inc. (NYSE:CLF) ranks among the stocks to benefit from an onshoring boom. Following the company’s second-quarter 2025 earnings release, KeyBanc raised Cleveland-Cliffs Inc. (NYSE:CLF) from Sector Weight to Overweight on July 22 and set a $14 price target on the company’s shares. Given Section 232 tariffs and manufacturing onshoring trends, KeyBanc highlighted possible share gains across Cleveland-Cliffs’ higher-margin automotive platform.

KeyBanc Upgrades Cleveland-Cliffs, Citing Automotive Strength

KeyBanc noted that Cleveland-Cliffs Inc. (NYSE:CLF) has a structured procedure for selling non-core assets, such as idled plants, which may help lower the company’s leverage in the upcoming quarters. Although the company’s total debt of $7.7 billion remains substantial, its current ratio of 2.04 shows solid liquidity.

Cleveland-Cliffs Inc. (NYSE:CLF) is the largest producer of flat-rolled steel in North America. The company’s products include advanced high-strength steel, aluminized, galvalume, enameling, hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, and galvannealed steel.

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Disclosure: None.