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Analysts Offer Insights on Materials Companies: Cleveland-Cliffs (CLF) and Westlake Corporation (WLK)

Tipranks - Tipranks - Thu Jun 11, 6:36AM CDT

Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Cleveland-Cliffs (CLF) and Westlake Corporation (WLK).

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Cleveland-Cliffs (CLF)

J.P. Morgan analyst Bill Peterson maintained a Hold rating on Cleveland-Cliffs today and set a price target of $13.00. The company’s shares closed last Tuesday at $12.72.

According to TipRanks.com, Peterson is a 4-star analyst with an average return of 7.7% and a 49.4% success rate. Peterson covers the Basic Materials sector, focusing on stocks such as Lithium Americas Corp., Ivanhoe Electric Inc., and Freeport-McMoRan. ;'>

The word on The Street in general, suggests a Hold analyst consensus rating for Cleveland-Cliffs with a $12.00 average price target, which is a -7.8% downside from current levels. In a report released yesterday, GLJ Research also upgraded the stock to Hold with a $15.01 price target.

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Westlake Corporation (WLK)

In a report released today, Hassan Ahmed from Alembic Global maintained a Buy rating on Westlake Corporation, with a price target of $110.00. The company’s shares closed last Tuesday at $86.11.

According to TipRanks.com, Ahmed is a 4-star analyst with an average return of 5.7% and a 47.5% success rate. Ahmed covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, Chemours Company, and LyondellBasell. ;'>

Currently, the analyst consensus on Westlake Corporation is a Moderate Buy with an average price target of $113.50, implying a 32.5% upside from current levels. In a report issued on June 8, UBS also assigned a Buy rating to the stock with a $117.00 price target.

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