Market Overview

UPDATE: Morgan Stanley Downgrades Nucor as Many Positive Industry Trends are Priced In

Share:
Related NUE
Benzinga's Top Upgrades
The Market In 5 Minutes: The United Kingdom Will Leave The European Union
PEY: A Better Place To Stash Cash - Smartly (Seeking Alpha)

In a report published Wednesday, Morgan Stanley analyst Evan L. Kurtz downgraded the rating on Nucor (NYSE: NUE) from Overweight to Equal-Weight, but raised the price target from $56.00 to $58.00.

In the report, Morgan Stanley noted, “We are downgrading Nucor to Equal-weight from Overweight as the company is approaching our revised price target of $58/share. We believe many of the positive US industry trends, including the expected recovery in non-res, is now mostly priced in.”

Nucor closed on Tuesday at $53.78.

Latest Ratings for NUE

DateFirmActionFromTo
Jun 2016Argus ResearchUpgradesHoldBuy
Jun 2016JefferiesMaintainsBuy
Jun 2016Credit SuisseMaintainsNeutral

View More Analyst Ratings for NUE
View the Latest Analyst Ratings

Posted-In: Evan L. Kurtz Morgan StanleyAnalyst Color Downgrades Analyst Ratings

 

Related Articles (NUE)

View Comments and Join the Discussion!