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NUE

Nucor

$56.70

1.78 (3.24%)

10:20
06/19/17
06/19
10:20
06/19/17
10:20

Nucor calls active as shares make up lost ground

Nucor calls active as shares make up lost ground. The stock fell 8.6% last week after the company issued an earnings warning Thursday, but is up $1.86 to $56.78 after Longbow upgraded the stock Monday morning. In option action, 6.2K Jul 62 calls are swept across the exchanges for 65c when bid-ask was 37 to 60c. 21K trade total. There is no open interest at that line, which is 8.9% above spot. Small lots of Jun 23rd 58 calls, Jul 57.5 calls, and Jul 7th 54.5 calls also changed hands. Total volume is 5X daily average and lopsided 50:1 at 25K calls and 500 puts.

NUE Nucor
$56.70

1.78 (3.24%)

05/24/17
FBCO
05/24/17
UPGRADE
Target $68
FBCO
Outperform
Nucor upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse analyst Curt Woodworth upgraded Nucor to Outperform and raised his price target for the shares to $68 from $56. The analyst also upgraded his U.S. Steel sector rating to Overweight from Market Weight. He expects prices to recover by late Q3 amid "strong" demand trends, low inventories, and trade dynamics via Section 232 "structurally limiting import flows despite attractive arb spreads." Woodworth notes that U.S. Steel equities have underperformed the market significantly since peaking in February.
05/24/17
05/24/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. DSW (DSW) upgraded to Neutral from Negative at Susquehanna with analyst Sam Poser saying concerns are reflected in valuation. 2. U.S. Steel (X), Steel Dynamics (STLD), and Nucor (NUE) were upgraded to Outperform from Neutral at Credit Suisse. 3. Momo (MOMO) upgraded to Buy from Hold at Deutsche Bank with analyst Eileen Deng saying the company posted accelerating user growth and "impressive" profitability in the first quarter. 4. Tilly's (TLYS) upgraded to Buy from Neutral at B. Riley with analyst Jeff Van Sinderen saying he sees business momentum following the company's first quarter results. 5. Cabot (CBT) upgraded to Buy from Neutral at Northcoast with analyst Kevin Hocevar saying his checks indicate indicate industry conditions are favorable for global carbon black manufacturers over the next few years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/19/17
LBOW
06/19/17
UPGRADE
LBOW
Buy
Nucor upgraded to Buy from Neutral at Longbow
06/19/17
LBOW
06/19/17
NO CHANGE
LBOW
Steel stocks upgraded on positive price outlook at Longbow
As noted earlier, Longbow upgraded steelmakers Nucor (NUE), Steel Dynamics (STLD), U.S. Steel (X) and AK Steel (AKS) to Buy from Hold. After speaking with contacts in the sector, analyst Chris Olin says they expect steel HRC prices to rise $50-$60 per ton, driven by "a (recent) modest uptick in downstream steel orders, inventory adjustments and a large pullback in the number of steel import offers." In the wake of his checks, Olin now sees the chances of near-term government support of the U.S. steel sector in the form of protection from imports at 70%-80%, up from 50% last month. The analyst reports that "some buyers" expect price to rise to $700-$750 per ton following the government action, up from $590-$600 currently. Nucor target $66, Steel Dynamics target $40, U.S. Steel target $30, AK Steel target $10.

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KITE

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MRK

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BLK

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$NSD

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$NYE

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ALDR

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$18.70

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AA

Alcoa

$32.33

1.15 (3.69%)

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HCC

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BV

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LTRX

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