BUZZ-Jefferies raises Steel Dynamics, Nucor PTs on higher steel prices

Reuters04-10
BUZZ-Jefferies raises <a href="https://laohu8.com/S/STLD">Steel Dynamics</a>, Nucor PTs on higher steel prices

** Jefferies raises price targets of U.S. steel manufacturers Steel Dynamics STLD.O and Nucor Corp NUE.N

** New PTs imply a 15.8% upside for STLD and 22.3% for NUE from their last closes

** Shares of STLD and NUE up between 1.5% and 2% in morning trading

** Brokerage constructive on U.S. steelmakers, cites easing geopolitical risks, supportive trade policies and an upcoming wave of mill maintenance

** Says U.S. steel prices continue to rise, with the outlook improving as supply tightens due to mill outages and imports dropping to multi‑year lows

** Including session moves, STLD up 13.7% and NUE up 14.8% YTD

Companies

Old PT

New PT

Steel Dynamics

$195

$220

Nucor Corp

$200

$225

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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