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UBS has warned that the outlook for U.S. steel stocks, including Nucor Corporation and Steel Dynamics, is dimming due to new tariffs announced by President Trump, which include a 10% increase effective April 5 and additional tariffs of 10-50% starting April 9. While steel products remain under a 25% tariff and Canada and Mexico are exempt, the new tariffs are expected to negatively impact demand and economic growth, with GDP growth predictions between 1.5-2% and inflation nearing 5% if not rolled back. The exemptions limit potential price increases for U.S. hot-rolled coil, as Canadian and Mexican imports represent about 55% of 2024 HRC imports.
President Trump has announced new tariffs, including a 10 percent increase for all countries starting April 5, with additional counter-tariffs for 185 countries effective April 9. UBS warns that these tariffs could negatively impact US steel stocks, with Nucor Corporation and Steel Dynamics, Inc. seeing declines of 2-3 percent. While Canada and Mexico are exempt from these tariffs, limiting price increases for hot-rolled coil, the overall demand is expected to suffer, projecting GDP growth between 1.5 and 2 percent and inflation nearing 5 percent if the tariffs remain.
Nucor Corporation, a leading American steel producer, has received an upgrade from UBS, highlighting a pullback in stock as an attractive entry point for investors. The company generates net sales primarily from hot and cold rolled steel production, manufacturing steel products, and processing metal scrap, serving various sectors including automotive and construction.
Nucor Corporation, a leading American steel producer, serves various sectors including automotive, construction, and mechanical engineering. Its sales are primarily from hot- and cold-rolled steels (57.9%), steel products (36.8%), and metal processing (5.4%). The company is also expanding into trading iron alloys and non-ferrous metals.
UBS has upgraded Nucor Corporation's stock rating from Neutral to Buy, raising the price target to $160, citing strong financial health and aggressive share buybacks. Despite projecting lower earnings for Q1 2025, Nucor's medium-term growth prospects remain positive, bolstered by recent tariff announcements and a solid dividend history. The company continues to navigate leadership changes while maintaining investor confidence amid fluctuating steel prices.
UBS has upgraded Nucor Corporation to a "Buy" rating with a price target of $160. Nucor is a leading American steel producer, with net sales primarily from hot and cold rolled steels (66.2%), steel products manufacturing (26.7%), and processing of steel and metal scrap (7.2%). The company serves various sectors, including automotive, construction, and household appliances.
Goldman Sachs has revised its price target for Nucor Corporation to $175 from $177 while maintaining a Buy rating. Nucor, a leading American steel producer, generates net sales primarily from hot and cold rolled steels, steel products manufacturing, and processing of steel and metal scrap.
UBS has reaffirmed a Neutral rating for Nucor Corporation, setting a price target of $156, based on an 8.0x EV/EBITDA multiple of future estimates. Nucor anticipates flat or lower Q1 2025 earnings per share, with a projected EBT of $443 million, despite higher corporate costs and lower earnings in its Raw Materials segment. The company reported Q4 earnings of $1.22 per share, exceeding expectations, while maintaining a commitment to return $2.74 billion to shareholders through buybacks and dividends in 2024.
Nucor Corporation, a leading American steel producer, faces pressure on product margins due to a downturn in the sheet steel market. The company’s sales are primarily derived from hot- and cold-rolled steels (57.9%), steel products (36.8%), and steel treatment and processing (5.4%), while also expanding into trading iron alloys and non-ferrous metals.
Nucor Corporation stands as a prominent player in the American steel industry, with its products serving sectors such as automotive, construction, and mechanical engineering. The company’s sales are primarily derived from hot- and cold-rolled steel production (57.9%), steel product manufacturing (36.8%), and steel processing (5.4%). Additionally, Nucor is expanding its trading operations in iron alloys and non-ferrous metals.
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