Deutsche Bank Upgrades Nucor (NUE) to Buy

October 5, 2015 7:13 AM EDT
Get Alerts NUE Hot Sheet
Price: $98.76 +3.21%

Rating Summary:
    14 Buy, 13 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 38 | Down: 18 | New: 7
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Deutsche Bank upgraded Nucor (NYSE: NUE) from Hold to Buy with a price target of $52.00.

Analyst Jorge Beristain said, “We upgrade Nucor to a Buy (from Hold) on valuation upside (+42% including dividends) following 3Q15 decrease in share price. Additionally lower anticipated scrap costs offset the impact of lower steel prices. Our PT multiple of 7.5x (unchanged) implies a PT of $52.”

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 $38.00 yesterday.

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