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Investing.com - Jefferies upgraded Nucor (NYSE:NUE) from Hold to Buy and raised its price target to $170.00 from $135.00 on Thursday. The steel producer, currently trading at $142.95, has demonstrated strong momentum with a 23.6% year-to-date return according to InvestingPro data.
The investment firm cited an improving steel demand outlook and upside risk to steel prices in the United States as key factors behind the rating change.
Jefferies noted that Nucor is well-positioned to deliver rising volumes into a strengthening market, which should benefit the steel producer’s performance.
According to Jefferies’ estimates, Nucor’s free cash flow yield will increase from 4.8% in 2026 to 9.5% in 2027 and continue rising thereafter as earnings improve from the ramp-up of growth projects and as capital expenditures decline.
The firm expects higher free cash flow to directly translate into higher capital returns for Nucor shareholders.
In other recent news, Nucor Corporation reported its Q2 2025 earnings, exceeding earnings per share (EPS) expectations with a reported $2.60, compared to the forecasted $2.52. However, the company’s revenue did not meet projections, coming in at $8.46 billion, falling short of the anticipated $8.54 billion. This revenue shortfall has raised concerns among investors regarding the company’s future performance. Despite the earnings per share beat, the stock experienced a decline in both regular and premarket trading. The reaction reflects investor apprehension linked to the revenue miss and future guidance. These developments highlight the importance of revenue figures and future outlook in investor decision-making. The mixed results underscore the complexity of the market’s response to earnings reports.
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