Cleveland-cliffs edges higher after Seaport Research upgrades to "buy"
** Cleveland-Cliffs' CLF.N shares rise ~1% to $13.88
** Seaport Research Partners upgrades co to "buy" from "neutral"
** We are upgrading CLF with a $16.50 PT based on a tactical call around the current steel price cycle and mounting supply-side response - Seaport
** "Disciplined and robust supply-side response is still percolating through the market and will become more evident in the near term, in our view," says analyst Martin Englert
** "Last week at our conference, CLF cited a notable improvement in the order of its books compared to several weeks earlier"
** Exiting the summer, seasonal improvement is typical, which should aid a sequentially better supply-demand balance - brokerage
** YTD, CLF down 31.6%
Reporting by Abhinav Parmar in Bengaluru
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