Morgan Stanley Maintains Buy Rating on Nucor (NUE) Amid Bullish Outlook

Nucor Corporation (NYSE:NUE) ranks among the stocks to benefit from an onshoring boom. Morgan Stanley analyst Carlos De Alba kept Nucor Corporation (NYSE:NUE) at a Buy rating on June 20 and lowered the price target to $134. According to the analyst, the adjustment was based on Nucor’s optimistic earnings forecast for the second quarter of 2025.

Morgan Stanley Maintains Buy Rating on Nucor (NUE) Amid Bullish Outlook

Pixabay/Public Domain

The company’s adjusted earnings per share projections, which range from $2.55 to $2.65, came in significantly greater than the market’s forecasts, surpassing both the consensus estimate and Morgan Stanley’s forecast.

The outlook was further supported by Nucor’s planned earnings growth across its steel mills, steel products, and raw materials segments, as well as its strategic share repurchase program.The company’s performance is also viewed with optimism due to the anticipated rise in average selling prices (ASPs) and volumes, as well as lower expenses.

Nucor Corporation (NYSE:NUE) specializes in the production of steel and related products. It is known as the largest scrap recycler in North America and the largest steel producer in the United States.

While we acknowledge the potential of NUE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NUE and that has 100x upside potential, check out our report about this cheapest AI stock.

Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.