Jefferies analyst Christopher LaFemina raised the firm’s price target on Nucor (NUE) to $135 from $125 and keeps a Hold rating on the shares. The company’s Q4 earnings significantly beat its revised guidance, largely due to resilient earnings in the Steel Products segment and higher than expected volumes in the Raw Materials segment, the analyst tells investors in a research note. The firm increased the price target to reflect higher estimates based on Nucor’s updated guidance and commentary, but cites the company’s relative free cash flow trajectory and acquisition possibilities for the Hold rating.
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