JP Morgan Initiates Coverage On Nucor with Underweight Rating, Announces Price Target of $130
Portfolio Pulse from richadhand@benzinga.com
JP Morgan analyst Michael Glick initiates coverage on Nucor (NYSE:NUE) with an Underweight rating and announces a price target of $130.
May 23, 2023 | 9:20 am
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JP Morgan initiates coverage on Nucor with an Underweight rating and a price target of $130.
JP Morgan's initiation of coverage on Nucor with an Underweight rating suggests that the analyst believes the stock is overvalued and may underperform in the short term. The price target of $130 also indicates that the analyst sees limited upside potential for the stock. This news is likely to have a negative impact on Nucor's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100