In a report released yesterday, Katja Jancic from BMO Capital maintained a Buy rating on Nucor (NUE – Research Report), with a price target of $145.00.
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Katja Jancic’s rating is based on Nucor’s recent performance and future potential. The company exceeded expectations with its second-quarter earnings guidance, which was significantly higher than both the previous quarter and consensus estimates. This positive performance was seen across all segments, indicating a strong operational execution.
Despite some uncertainties in the market, such as tariff issues and seasonal slowdowns, Nucor’s strategic moves, including efforts to increase prices and its ongoing share repurchase program, suggest a robust outlook. Additionally, Nucor’s valuation appears attractive, trading at a relatively low multiple compared to its expected earnings, which supports the Buy rating.
In another report released on June 9, J.P. Morgan also maintained a Buy rating on the stock with a $143.00 price target.
NUE’s price has also changed slightly for the past six months – from $117.960 to $126.180, which is a 6.97% increase.