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 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.

While we acknowledge the potential of CLF as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.