Bank of America Securities analyst Lawson Winder has maintained their bullish stance on NUE stock, giving a Buy rating yesterday.
Lawson Winder has given his Buy rating due to a combination of factors that highlight Nucor’s strong financial performance and promising outlook. The company reported first-quarter earnings per share (EPS) that exceeded its own guidance and market consensus, driven by higher volumes in its Steel Mills segment. This segment is expected to continue its robust performance into the second quarter, with anticipated improvements in pricing and stable to higher volumes, contributing to a significant increase in overall earnings.
Additionally, Nucor’s strategic investments and capital returns are noteworthy. The company’s $10 billion investment plan is advancing well, with key projects nearing completion, which should bolster future growth. Despite elevated capital expenditures, Nucor continues to maintain strong capital returns, including substantial buybacks and dividends. These factors, combined with a favorable market environment and Nucor’s diverse product mix, underpin Winder’s positive outlook and Buy rating for the stock.
In another report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $140.00 price target.
NUE’s price has also changed moderately for the past six months – from $147.730 to $116.570, which is a -21.09% drop .