#6 - Nucor (NYSE:NUE)
If you have a high risk tolerance, Nucor Corp. (NYSE: NUE) is a comeback stock to consider. The steelmaker will be one of the companies front and center in the upcoming tariff debate.
A range of possibilities exist. The most bearish for NUE stock in the short term is that a tariff war will reignite inflation and cause a slowdown in demand, particularly in construction. The bullish thesis stems from the company’s recent investments in manufacturing capacity, production efficiency, and its position in new revenue streams.
The reality will likely be somewhere in between. In which case, investors should be looking favorably at a stock that’s down 23% in 2024 and is trading around its 52-week low.
NUE stock has a consensus price target of $183.75, which offers a 39% upside. To put that into context, Nucor received a downgrade from UBS Group on December 12 due to demand concerns. However, their adjusted price target of $156 would still be a gain of about 20%.
About Nucor
Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.
Read More - Current Price
- $118.62
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 6 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $165.63 (39.6% Upside)
