BMO Capital upgraded Nucor (NUE) to Outperform from Market Perform with a price target of $145, up from $140. Nucor is executing on a multi-year organic growth plan that should over time support higher through-cycle profitability and free cash flow, the analyst tells investors in a research note. The firm believes the company remains well positioned to benefit from the announced doubling of steel tariffs due to its relatively lower utilization rates and diversified product mix. The shares are trading at a “compelling” valuation, adds BMO.
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