JP Morgan Lowers PT On NUE To $58

JP Morgan has issued a report lowering the Price Target on Nucor Corp.

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.