UPDATE: Deutsche Bank Downgrades Nucor to Hold

Deutsche Bank lowers its rating on Nucor

to Hold from Buy on a 4Q results beat aided by tax items. Price target remains unchanged at $47. Deutsche Bank notes, "Nucor reported adjusted EPS of $0.37 excluding retirement gain of 6c, above DBe of $0.26 and mid-December guidance of $0.22-0.27. Also, 4Q was aided by a 7c tax items; pointing to ‘clean' EPS of 30c. 4Q results exceeded prior guidance mainly on LIFO (+5c)." NUE closed at $44.13 a share on Thursday.