From Financial Modeling Prep: 2025-03-24 17:17:00

Nucor (NYSE:NUE) shares surged over 4% as UBS upgraded the stock to Buy with a new price target of $160. The company’s valuation has compressed to 7.5x UBS’s 2025 EV/EBITDA estimates, down from 9x, while steel prices have risen due to 25% tariffs under Section 232.

UBS predicts steel prices will ease in the second half of 2025, but sees reshoring and import protection levels balancing risks. They expect medium-term hot-rolled coil prices to stay above $800 per short ton, supported by rising scrap prices. Nucor’s Products segment is poised to benefit from tariffs on downstream goods.

The firm’s confidence in Nucor’s outlook is driven by favorable pricing trends, tariff support, and a de-rating of the stock. UBS believes the company is well-positioned to capitalize on the current market dynamics and potential additional tariffs on specific countries.



Read more at Financial Modeling Prep:: UBS Upgrades Nucor to Buy, Stock Gains 4%