Freedom Broker upgrades Nucor to Buy and raises price target to $304
Freedom Broker lifted its rating on Nucor from Hold to Buy after the steelmaker posted a third‑quarter 2026 earnings per share of $5.80, beating its own guidance. The analyst increased the price target to $304, up from $285, and highlighted a 32% year‑over‑year rise in net sales to $11.25 billion. Management said 2027 should be stronger, driven by demand from data centers, energy and infrastructure projects.
Why it matters
The upgrade and higher price target suggest investors may reprice Nucor’s shares upward, potentially supporting further price gains. The earnings beat and sales growth also improve the company’s outlook for 2027, which could affect demand for its stock.
Key facts
- 1Freedom Broker upgraded Nucor to Buy from Hold and raised its price target to $304, up from $285. investing.com
- 2Nucor reported third‑quarter 2026 earnings per share of $5.80, above its guidance range of $5.55 to $5.65. investing.com
- 3Net sales for the quarter were $11.25 billion, up 32% year‑over‑year. investing.com
- 4EBITDA totaled $2.28 billion, giving an EBITDA margin above 20%. investing.com
- 5Freedom Broker’s price target increase implies an 11.0% upside from the Oct 30 close of $273.87. tradingview.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.