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$CLF upgraded to $39 by JP Morgan, calls steel “generational opportunity”

Today JP Morgan upgraded $CLF to $39

$CLF upgraded to $39, overweight rating

JP Morgan is also calling steel a generational opportunity.

JP Morgan Sees a Generational Opportunity for the Steel Industry

We also know they are stockpiling cash waiting to invest as they wait on Powell speech.

Jamie Dimon says 500 billion cash stockpiled looking to invest inflation

This looks to be a perfect storm. If you look at the Q1 increases $CLF Seems to be outperforming as well.

"Q1 steel product volumes totaled 4.14M net tons at an average selling price of $900/net ton, compared to 197K net tons at an average selling price of $980/net ton a year ago."

That is an increase of over 2000% in tonnage YoY for Q1. The company just raised Guidance for the 3rd time as well to 5b EBITDA. And they are calling this 3rd guidance raise to 5b EBITDA for '21 CONSERVATIVE.. they paid down 2025 notes 4 years early, 5 weeks left into the quarter, with "available liquidity"..

CLF 3rd guidance raise in 3 months

How much cash is CLF printing?

Thoughts?

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