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Fly News Breaks for February 29, 2016
NUE
Feb 29, 2016 | 06:53 EDT
KeyBanc analyst Philip Gibbs downgraded Nucor to Sector Weight following the tepid Q1 outlook. The analyst lowered estimates to reflect higher scrap costs, modestly weaker plate/bar pricing, and higher corporate SG&A.
News For NUE From the Last 2 Days
NUE
Apr 24, 2024 | 09:54 EDT
BMO Capital lowered the firm's price target on Nucor to $200 from $210 and keeps a Market Perform rating on the shares after its Q1 earnings miss. Following nine consecutive quarters of beating expectations, Nucor's results and outlook disappointed, while its Q2 results are also expected to moderate sequentially, the analyst tells investors in a research note. Nucor remains well-positioned to benefit from positive longer-term demand tailwinds, but its capex spending elevated, BMO adds.
