Nucor (NUE) Gains Fresh Bullish Call as Seaport Research Lifts Target to $245

Nucor Corporation (NYSE:NUE) is included among the 10 Best Value Stocks to Buy in 2026 According to Warren Buffett.

Nucor (NUE) Gains Fresh Bullish Call as Seaport Research Lifts Target to $245

On May 1, Seaport Research raised its price recommendation on Nucor Corporation (NYSE:NUE) to $245 from $185. It reiterated a Buy rating on the stock. The firm said it remains encouraged by Nucor’s long-term growth potential across market cycles, the analyst told investors.

On April 29, Citi also lifted its price target on Nucor to $260 from $180 while keeping a Buy rating on the shares. The firm updated its model following the company’s earnings report and said it remains bullish on Nucor. Citi noted that the company’s new capacity is accelerating returns.

During Nucor’s Q1 2026 earnings call, Chairman and CEO Leon Topalian said the company generated nearly $1.5 billion in EBITDA and reported earnings of $3.23 per share. He said the results showed a great improvement from the fourth quarter. Topalian also noted that Nucor returned $254 million to shareholders through dividends and share repurchases. At the same time, the company reinvested $661 million back into the business.

He added that steel mill shipments reached 7 million tons during the quarter, the highest quarterly shipment volume in Nucor’s history. According to Topalian, the company’s steel mills backlog ended the first quarter at 4.7 million tons. That figure was up 20% from year-end levels and marked the highest level since the second quarter of 2021.

Nucor Corporation (NYSE:NUE) manufactures steel and steel products and operates facilities across the United States, Canada, and Mexico. The company also produces and procures ferrous and non-ferrous materials mainly for use in its steel manufacturing business. Its operations are divided into steel mills, steel products, and raw materials segments.

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