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

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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 2017Longbow ResearchUpgradesNeutralBuy
May 2017Credit SuisseUpgradesNeutralOutperform
May 2017Longbow ResearchInitiates Coverage OnNeutral

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

 

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