Citi reiterates 'Buy' Rating on Nucor (NUE), Says Sell-off Oversimplified, Overdone
More News related to NUE
- Trading Outlook for Hecla Mining Co. Issued by InvestorSoup.com
- Nucor-Yamato Prevails in Local Lawsuit
- Arkansas Nucor Plant Found Guilty of a Racially Hostile Work Environment, Plaintiffs Awarded $1.2 Million
- Trading Outlook for Century Aluminum Co. Issued by StockPreacher.com
- Trading Review for NCI Building Systems Inc. Issued by InvestorSoup.com
More News related to Analyst Comments
- Google (GOOG) To Implement First Ever Share Buyback - Broadpoint.AmTech
- Broadpoint.Amtech analyst thinks that Google (GOOG) can implement a stock buyback plan to counter dilution
- Clearwire (CLWR) Needs to Raise Up To $3B -BofA
- Merriman Curhan Ford Reiterates a 'Buy' on Regeneron (REGN); Raising Target Range
- Credit Suisse Hikes Target on Vale (VALE) to $34; Sees 91% Jump in Profits Next Year
Citi reiterates a 'Buy' rating on Nucor (NYSE: NUE), saying sell-off oversimplified, overdone. Price target $90.
Citi analyst says, "We see reaction to 2Q as excessive, considering Sheet hikes set for next week, stronger-than-advertised mill margins, and guidance history. Steel seems to be rotating from the "Commodity momentum phase," to the "Earnings discovery phase." This is likely to see a rotation in the shareholder base, creating opportunity for longer-term value investors...NUE seems to discount a worst-case scenario of $5 – 6 in EPS at a 10x multiple. Considering Steel fundamentals, financials, low valuation, credible growth, and +3.5% yield, we would be buyers."
Nucor Corporation is engaged in the manufacture and sale of steel and steel products. The Company operates in two business segments: steel mills and steel products. [SM]
Related Categories
Analyst CommentsStocks Mentioned
+0.71Related 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!
