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Nucor Q1 Earnings Beat to Inflect Higher Into Q2, BofA Says

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Nucor's (NUE) Q1 earnings beat is set to inflect higher into Q2 as the company guided to improved earnings across all operating segments, with steel mills and raw materials benefiting from better pricing, BofA Securities said in a Tuesday research note.

The brokerage boosted its 2026 EPS guidance to $15.14 from $12.85 and expects higher cash generation this year and in 2027. The outlook is supported by higher hot-rolled coil pricing and falling capital spending which the brokerage said should drive free cash flow higher.

The company is seeing demand strength from reshoring, infrastructure spend and AI datacenter capex. It remains "cushioned" by backlog visibility and a strong balance sheet, according to the note.

The brokerage reiterated its buy rating on the stock and boosted its price objective to $250 per share from $190.

Price: $220.00, Change: $+5.00, Percent Change: +2.33%

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