What part of $7 to $10 price target do you not understand ?
The Big Boys have a plan. They have shorted "50 MILLION" shares and are in the drivers seat. They "will" take Cliffs into the single digits whether you like it or not. You can't fight them and you can't stop them. It's just comes down to how can "you" make money off what they are doing. Think about it.
Keep in mind the Analysts with the higher price targets are old targets, put out long ago. The "NEW" price targets based upon what is happening "NOW" in the market is all that matters. In case you haven't noticed a lot has changed in the past months.
To be fair there are more analysts with$16-$26 targets than there are with $7-$10. I guess you can call WFC,MS,CS big boys, not so sure about Axiom and Macquarie (Sanford.at $13) The firms with $16-26 (DB,BMO,RBC,Cowen,UBS,GS,JPM,FBR,Nomura,Clarkson,EVA . With Keybanc,Stifel,BBT,MOrningstar all having Hold ratings as well.
That being said most of the $16-18 targets have hold not buy ratings, which means there are more Sell calls than Buy calls, with the bulk of sell side shops calls being Hold.