Natural resource stocks enjoyed some renewed attention today, and overall the news was good, as a couple of them were upgraded, and some were among the top picks of stocks going forward, specifically Cliffs (NYSE:CLF), Alpha Natural Resources (NYSE:ANR), Peabody Energy (NYSE:BTU) and Freeport (NYSE:FCX) from Bank of America (NYSE:BAC), which along with Citigroup (NYSE:C) upgraded AK Steel (NYSE:AKS), and Bank of America also upgraded RTI International Metals (NYSE:RTI).
Metal stocks were particularly strong today, based on the conclusion they've been vastly over-corrected, which means they're cheap and have a lot of upside, even in the uncertain market and unknown demand factors, which have been skewed by the European sovereign debt crisis, as well as the inflation challenges faced in China, which could result in lower demand for a number of raw materials than previously expected.
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