Nucor price target lowered to $140 from $156 at JPMorgan

JPMorgan analyst Bill Peterson lowered the firm’s price target on Nucor (NUE) to $140 from $156 and keeps an Overweight rating on the shares. While steel has been excluded from reciprocal tariffs, revamped Section 232 tariffs should lend to a higher pricing floor and improved utilization, at least over time, the analyst tells investors in a research note. The firm cut December 2025 price targets in the steel group to reflect multiple de-rating and conservative shipment growth amid trade uncertainty and evolving recession risk.