Longbow analyst Chris Olin is looking for a positive mid-quarter update from Nucor with positive commentary about nonresidential construction demand, wider mini-mill spreads, steady downstream margins, and investment contributions to push 2H 2018 expectations higher. Olin's expects Q2 earnings of $1.68, in-line with consensus, and sees increasing construction spending driving 2-3 years of additional long product volume growth. The analyst expects consensus estimates to move much higher, reflecting recent transaction volumes for bar, beam, and plate products and visible volume strength across all of the carbon steel mills. Olin rates Nucor a Buy with a $90 price target.

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.