Morgan Stanley Names Cliffs Natural (CLF) 'Long Research Tactical Idea'

An analyst at Morgan Stanley added shares of Cliffs Natural Resources (NYSE: CLF) to the firm's "Long Research Tactical Idea" list Friday morning. Although only modestly higher from Thursday's closing price, Cliffs Natural shares are outperforming the broader stock market handily: up 0.2 percent compared to a 1.3 percent decline in the Dow and S&P 500.

The firm said it sees positive catalysts for Cliffs Natural moving forward, including the potential bottoming of iron ore prices amid steel mill restockings at a number of large companies in China.

Morgan Stanley also highlighted the company's Analyst Day, currently set for June 28.

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