UBS analyst Andrew Jones upgraded Nucor Corp to Buy from Neutral, raising the price target to $190 due to a recent stock pullback creating a good entry point. Despite a weak Q4 2025 report, UBS views the challenges as cyclical, with a brighter outlook for 2026 driven by rising steel prices, reduced imports due to tariffs, and strong demand from sectors like data centers and energy infrastructure. Nucor is also shifting to lower capital spending, expecting higher free cash flow. The stock trades at a forward P/E of 13.3x, with broad analyst support and a long history of dividend increases, though risks remain from slower automotive and residential markets.
