Overview
- UBS raised its rating on Nucor to Buy and lifted the price target to $190, calling the recent share slide an excessive correction.
- Nucor guided first‑quarter earnings to $2.70–$2.80 per share, a step up from the prior quarter’s adjusted $1.73 result.
- Management expects profit to improve across Steel Mills, Steel Products, and Raw Materials, led by higher prices and stronger volumes at the mills.
- The company repurchased about 0.7 million shares at roughly $175 each and has returned about $250 million to investors this year through buybacks and dividends.
- Analysts point to tailwinds from lower steel import share and larger order backlogs, with Seaport reaffirming Buy at $185 and KeyBanc initiating coverage at Sector Weight.