Nucor price target lowered to $155 from $160 at Argus

Argus lowered the firm’s price target on Nucor (NUE) to $155 from $160 abut nd keeps a Buy rating on the shares. The stock has underperformed the market and the Materials sector over the past three months, but this is rare as Nucor shares had outperformed the broad market and the industry over the past five years, the analyst tells investors in a research note. Nucor’s balance sheet is clean, its management has signaled its confidence with recent dividend hikes, and there is potential for share-price gains as earnings begin to rebound in 2025, Argus adds.