Steel Stocks Rebound: JPMorgan Lifts Ratings On Nucor, Steel Dynamics, US Steel
Portfolio Pulse from Priya Nigam
JPMorgan has upgraded ratings for Nucor, Steel Dynamics, and US Steel, citing improved valuations and potential rate environment improvements. Nucor and US Steel are seen as best positioned for upside, despite uncertainties in Fed rates and election results.
September 09, 2024 | 3:16 pm
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POSITIVE IMPACT
JPMorgan upgraded Nucor from Neutral to Overweight, raising the price target to $174. Despite potential timid outlook comments, Nucor is well-positioned for upside due to strong product diversification.
The upgrade to Overweight and increased price target suggest a positive outlook. Nucor's strong product diversification supports its potential for upside.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
JPMorgan upgraded US Steel from Neutral to Overweight, raising the price target to $42. The recent stock pullback offers an attractive buying opportunity.
The upgrade to Overweight and increased price target, along with the attractive valuation from the recent pullback, suggest a positive short-term outlook.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEUTRAL IMPACT
JPMorgan upgraded Steel Dynamics from Underweight to Neutral, raising the price target to $131. Despite uncertainties, its strong product diversification supports stability.
The upgrade to Neutral and increased price target indicate a more stable outlook. However, uncertainties in the market may limit immediate upside.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100