Heat Treat Industry News

May 20, 2008

Nucor "Outperform," Target Price Raised

NEW YORK, May 19 (newratings.com) - Analysts at Credit Suisse maintain their "outperform" rating on Nucor Corp (NUE), while raising their estimates for the company. The target price has been raised from $85 to $95.

In a research note published this morning, the analysts mention that the annual contract price estimate for standard hot-rolled coil for 2009 has been raised from $660/ton to $800/ton, marking a rise of about 45%-50% on a y/y basis. There is additional upside to these upwardly revised estimates, in view of the favourable pricing trends for US steel producers, the analysts add. The EPS estimate for 2009 has been raised from $7.20 to $8.20.

10:51a.m. - Credit Suisse

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