JPMorgan Raises Nucor (NUE) Forecast Ahead of Expected Strong Q2 Results

Nucor Corporation (NYSE:NUE) is included among the 10 Best Value Dividend Stocks to Buy Now According to Warren Buffett.

JPMorgan Raises Nucor (NUE) Forecast Ahead of Expected Strong Q2 Results

On June 10, JPMorgan analyst Bill Peterson raised the firm’s price recommendation on Nucor Corporation (NYSE:NUE) to $282 from $240. He reiterated an Overweight rating on the shares. The update came as part of the firm’s mid-quarter review of steel companies. JPMorgan expects Nucor to deliver a solid Q2 earnings report and sees a “better-than-seasonal” outlook for the second half of 2026. The firm also continues to view the U.S. steel industry as a “relative safe haven.”

Earlier, on June 4, Wells Fargo raised its price goal on Nucor to $292 from $244. It kept an Overweight rating on the stock. The firm updated its steel sector models as part of a mid-quarter review and increased its steel price forecasts and earnings estimates. Wells Fargo expects steel market strength to continue through October. According to the analyst, “Unusually lean” service center inventories mean mills will need to replenish stock even if demand slows seasonally during the third quarter. The firm added that steel prices could come under pressure in the fourth quarter as supply begins to catch up with demand.

Nucor Corporation (NYSE:NUE) manufactures steel and steel products and operates facilities across the United States, Canada, and Mexico. The company also produces and sources ferrous and non-ferrous materials, primarily to support its steel manufacturing operations.

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