UPDATE: Jefferies Reiterates On Nucor Corporation On Improved Cycle Outlook

Loading...
Loading...
In a report published Monday, Jefferies analyst Luke Folta reiterated a Buy rating on
Nucor CorporationNUE
, and raised the price target from $58.00 to $66.00. In the report, Jefferies noted, “Per our analysis, we see N.A. capacity consolidation and tighter global scrap supply supporting higher LT U.S. steel prices (vs prior est.) and we've increased est./TP's accordingly. Global markets however are far weaker and imports continue to increase, leading us to believe near term weakness in steel is likely. With an improved cycle outlook, we advise investors to continue to hold steel stocks, using any such near term pullback to add to positions.” Nucor Corporation closed on Friday at $57.64.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsJefferiesLuke Folta
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...