JPMorgan analyst Bill Peterson raised the firm’s price target on Nucor (NUE) to $162 from $143 and keeps an Overweight rating on the shares. The firm adjusted steel price targets ahead of the Q2 reports. It increased the targets to reflect the multiple re-rating off President Trump’s “Liberation Day” lows and a higher price floor. The protectionism and national security backing from the Trump administration warrant a valuation premium for U.S. mills on higher through-cycle pricing, the analyst tells investors in a research note.
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