Cleveland-Cliffs (CLF) PT Raised by BofA to $12.50 on Strong Q2 Performance, Tariff Benefits

Cleveland-Cliffs Inc. (NYSE:CLF) is one of the best growth stocks under $30 to buy. On September 15, BofA raised the firm’s price target on Cleveland-Cliffs to $12.50 from $9.50, while keeping a Neutral rating on the shares. This sentiment was announced by the firm ahead of Cleveland-Cliffs’ Q3 2025 earnings report.

Earlier in Q2 2025 earnings, Cleveland-Cliffs reported a $271 million improvement in adjusted EBITDA from the prior quarter. The company achieved 4.3 million tons in shipment volumes, which marked a 150,000-ton sequential increase. Operational efficiencies led to a $15 per ton decrease in unit cost, contrary to expectations of an increase, and the average selling price rose by $35 per ton to $1,015 per ton.

The company’s liquidity stood at $2.7 billion at the quarter’s end. Furthermore, Cleveland-Cliffs is on track with its full-year target for a $50 per ton reduction in steel unit cost and has lowered its full-year 2025 expectations for combined SG&A and capital expenditures by $50 million. The company’s positive performance is supported by benefits from Section 232 steel tariffs, which are seen as supporting the domestic steel industry.

Cleveland-Cliffs Inc. (NYSE:CLF) operates as a flat-rolled steel producer in the US, Canada, and internationally. The company was formerly known as Cliffs Natural Resources Inc.

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. This article is originally published at Insider Monkey.