On June 25, Nucor rose 3.2% in regular trading, trading at $248.02/share, with turnover of $129 million. The move was driven by KeyBanc upgrading Nucor from Sector Weight to Overweight on June 24, setting a price target of $274.
The upgrade follows Nucor's Q2 earnings guidance issued on June 18, projecting adjusted EPS of $4.50 to $4.60, significantly above the consensus estimate of $4.21. The strong guidance reflects improved pricing across all operating segments, with steel mills and raw materials benefiting from higher realized selling prices. Multiple investment banks have raised targets in recent weeks: Goldman Sachs to $284, BMO to $285, JPMorgan to $282, BofA to $290, and Morgan Stanley to $258. The current consensus price target stands at approximately $268.93 with an overweight rating consensus.
Within the Steel & Iron sector, peers also posted gains: Steel Dynamics up 3.43%, Commercial Metals up 3.32%, Cleveland-Cliffs up 1.94%, Vale SA up 1.68%, and ArcelorMittal up 0.67%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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