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Here’s why BNP Paribas upgraded Nucor (NYSE: NUE) to Outperform

Thu 06 Jul 23, 07:00 AM | Akanksha Vashisht

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BNP Paribas revised its rating on Nucor to ‘Outperform’ on July 5, 2023. The equity analyst also gave a price target of US$ 191 on the stock, which is 19.04% higher than its closing price on Wednesday, July 6, 2023.

The mean recommendation rating on the stock was 2.6 on a scale of one to five. Here, one represents a ‘Strong Buy’ rating and five represents a ‘Strong Sell’ rating. Meanwhile, the consensus mean price target on the stock was US$ 164, an upside potential of 2.21% on its closing price of US$160.45 on July 5, 2023.

Refinitiv data suggests that sixteen analysts have covered NUE. Two analysts have given NUE a ‘Strong Buy’ rating, three analysts have given it a ‘Buy’ rating, ten analysts have given the stock a ‘Hold’ rating and one analyst believes the stock is a ‘Sell’. None of the analysts have given Nucor a ‘Strong Sell’ rating.

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