Deutsche Bank Downgrades Nucor (NUE) to Hold; Moving To Sidelines

Deutsche Bank downgraded Nucor (NYSE: NUE) from Buy to Hold, price target maintained at $47.00.

Deutsche analyst says, "Nucor reported adjusted EPS of $0.37 excluding retirement gain of 6c, above DBe of $0.26 and mid-December guidance of $0.22-0.27. Also, 4Q was aided by a 7c tax items; pointing to ‘clean’ EPS of 30c. 4Q results exceeded prior guidance mainly on LIFO (+5c). Following results, our estimates are little changed and we are lowering rating to Hold on limited upside to PT, preference toward other stocks under coverage and view that steel prices are nearing a peak."

For an analyst ratings summary and ratings history on Nucor click here. For more ratings news on Nucor click here.

Shares of Nucor closed at $44.13 yesterday.

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