Wells Fargo lowered the firm’s price target on Nucor (NUE) to $140 from $146 after management’s lower guidance than expected, which hurts 2026 view. Wells stays at Equal Weight and prefers Steel Dynamics (STLD) for greater leverage to its view that sheet prices rebound into year end.
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Read More on NUE:
- Nucor’s Strategic Positioning and Shareholder Value Initiatives Justify Buy Rating Despite Short-term Challenges
- Closing Bell Movers: Nucor slumps 5% after negative pre-announcement
- Nucor down 5% at $136.05 after below-consensus Q3 pre-announcement
- Nucor sees Q3 EPS $2.05-$2.15, consensus $2.63
- Nucor price target raised to $165 from $150 at BofA