Nucor price target raised to $168 from $155 at BMO Capital

BMO Capital analyst Katja Jancic raised the firm’s price target on Nucor (NUE) to $168 from $155 and keeps an Outperform rating on the shares after its Q3 earnings beat. Eearnings are expected to decline in Q4, albeit in part explainable with seasonality, while, backlogs remain healthy, and Nucor is well-positioned to capture further market share, the analyst tells investors in a research note. Organic growth pipeline is progressing, with multiple projects at or nearing completion, the firm added.