Citi Maintains 'Buy' Rating on Nucor (NUE), Sees Positive for STLD, GNA and CMC
More News related to CMC
- Commercial Metals Company Reports $0.54 EPS for First Quarter
- Commercial Metals (CMC) Declares $0.12 Per Share Quarterly Dividend
- Commercial Metals Company Declares Quarterly Cash Dividend
- Commercial Metals Company Announces First Quarter 2009 Conference Call Webcast Details
- Goldman Sachs Downgrades Commercial Metals (CMC) to Neutral
More News related to GNA
- Gerdau Ameristeel to Present at Goldman Sachs' Fourth Annual Global Steel CEO Forum
- Gerdau AmeriSteel (GNA) Reports Mixed Q3 Results
- Gerdau Ameristeel (GNA) Reports Mixed Q3 Earnings
- KeyBanc Downgrades US Steel (X) and Olympic (ZUES) to Hold; Lowers Price Target on Several Steel Stocks
- Citi Maintains 'Buy' Rating on Nucor (NUE), Sees Positive for STLD, GNA and CMC
More News related to NUE
- David Moenning's Daily State of the Markets: 1/07
- UBS Downgrades Nucor (NUE) to Neutral
- Top 15 For 2008 (No. 13): Obama Elected President
- Steel Industry Counting on Obama's Stimulus Plan to Boost Production -NY Times
- Nucor Invites You to Join Its Fourth Quarter and Year End of 2008 Conference Call on the Web
More News related to New Coverage
- Deutsche Bank Downgrades and Lowers Estimates On Global Metals and Mining Companies (RIO, AAUK)
- Soleil Securities Maintains a Buy on Airgas (ARG), Lowers Estimates and Price Target
- Buckingham Research Maintains a 'Neutral' Rating on Wal-Mart (WMT), See Upside/Downside Fairly Balanced
- Wedbush Morgan Maintains a 'Hold' on Majesco Holdings (COOL), Impressed With Progress But Investors Remain Skeptical
- Wedbush Morgan Maintains a 'Hold' on Family Dollar Stores (FDO), Raises Price Target and Estimates
Citi maintains 'Buy' rating on Nucor Corp (NYSE: NUE). Price target $90.
Citi analyst says, "Steel equities have been punished amid the China slowdown and Crude-induced exodus from commodities. Yet, underlying Steel markets are far more solid. Spot Sheet prices may have topped out, but company realizations should climb into 2009, while Beam/Bar/Plate remain at or near records. Incremental crude Steel costs suggest a floor of +$900/s.ton...Thus, our positive view on NUE is not tied to prophesies of China/macro salvation or imminent Steel price levitation, but rather to favorable company-specific product mix and margin structure. As a result we see upside to 3-4Q EPS while maintaining above-consensus 2009-10. A positive preannouncement is likely. This dynamic also helps Steel Dynamics (Nasdaq: STLD), Gerdau AmeriSteel (NYSE: GNA), and Commercial Metals (NYSE: CMC)."
Nucor Corporation is engaged in the manufacture and sale of steel and steel products.
Related Categories
New CoverageStocks Mentioned
-0.53Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
