UBS analyst Andrew Jones CFA maintained a Buy rating on Nucor today and set a price target of $165.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Andrew Jones CFA has given his Buy rating due to a combination of factors including Nucor’s strong third-quarter performance, which exceeded market expectations. The company’s adjusted EBITDA and EPS surpassed consensus estimates, driven largely by robust results in the Steel Mills segment, which benefited from higher volumes and prices.
Additionally, Nucor’s operational cash flow was solid, and the company maintained its dividend while executing share buybacks, indicating a strong financial position. Despite a weaker outlook for the fourth quarter, the ongoing progress on major projects and an increased capital expenditure guidance suggest a positive long-term growth trajectory. The valuation, with a price target of $165 per share, reflects confidence in Nucor’s ability to capitalize on its strategic initiatives and market conditions.
In another report released on October 21, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $151.00 price target.