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JP Morgan Lowers PT On NUE To $58

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JP Morgan has issued a report lowering the Price Target on Nucor Corp. (NYSE: NUE) from $59 to $58 a share.

According to the report, "Despite another sizeable quarterly beat we are lowering 2011 EPS estimates to reflect greater-than-expected 3Q11 margin pressure, primarily in sheet products, as imports and incremental domestic capacity threw cold water on previously hot prices."

NUE has an Overweight Rating and closed yesterday at $40.63 a share.

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings

 

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