JP Morgan Cuts Nucor (NUE) Price Target to $296
JP Morgan maintains its Overweight rating on Nucor with a revised price target of $296 as shares trade below this mark, a 13.04% upside from the current price.
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JP Morgan cut its price target on Nucor Corporation ($NUE) to $296 from $308 on October 9, 2026, and rates the stock "Overweight".
Since the rating, $NUE is up 2.4% after 1 week and up 2.4% to date (from the $250.33 close on Oct 9, 2026).
NUE
Nucor Corporation
Key Points
- JP Morgan reiterated its Overweight rating on Nucor Corporation and set a new price target of $296 on October 9, 2026.
- JP Morgan's $296 price target implies 13.04% upside from Nucor Corporation's ($NUE) current $261.85 share price.
- Nucor shares recently traded around $261.85, which is about 11.5% below the new target price.
- The company is set to report its next earnings on October 26, 2026, following a strong revenue growth of 23% year-over-year.
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JP Morgan reiterated its Overweight rating on Nucor Corporation (NYSE: NUE) on October 9, 2026, setting a new price target of $296. This is a decrease from their previous target of $308. The adjustment comes as Nucor's shares were recently trading around $261.85, which is about 11.5% below the new target price.
Other Institutional Activity in Nucor Corporation
Several other institutional investors hold significant stakes in Nucor. Blackrock Inc. added 729,921 shares, bringing its total to 19,989,061 shares valued at approximately $5.1 billion. Vanguard Capital Management LLC increased its holdings by 403,629 shares, totaling 14,870,609 shares worth about $3.8 billion. Meanwhile, Vanguard Portfolio Management LLC grew its position by 461,281 shares, ending with 12,198,702 shares valued at around $3.1 billion. In contrast, State Street Corporation reduced its stake by 680,751 shares, leaving it with 11,562,974 shares worth about $2.96 billion.
Nucor Corporation Stock Up 5.4%
Nucor shares are currently trading below the newly set target price. With the stock priced at $261.85, it is positioned below the target of $296, which may influence investor sentiment. The company's shares have seen volatility, but they remain a significant player in the steel industry.
$NUE price target
Nucor Corporation daily closes and this analyst's $296 target. Not advice.
Recent Earnings
Nucor reported a trailing twelve-month revenue of approximately $36.1 billion and an EPS of $12.52. The company has demonstrated a year-over-year revenue growth of 23%, highlighting its strong market position. The next earnings report is scheduled for October 26, 2026, providing further insights into its performance.
Insider Buying and Selling at Nucor Corporation
Recent insider transactions at Nucor include several sales. Stephen D. Laxton, the President, sold 3,968 shares on July 30, 2026, at an average price of $256.96, totaling approximately $1.02 million. Officer Thomas J. Batterbee sold 4,000 shares on August 3, 2026, at about $261.02, valued at around $1.04 million. CEO Leon J. Topalian sold 26,000 shares on August 14, 2026, valued at approximately $6.98 million, and Officer Allen C. Behr sold 7,739 shares on the same day, totaling about $2.12 million.
Analysts Set New Price Targets
On October 9, 2026, JP Morgan maintained its Overweight rating on Nucor Corporation while adjusting its price target to $296 from $308. Earlier, Freedom Broker downgraded its rating to Hold with a target of $285, and Wells Fargo maintained an Overweight rating with a target of $280. The consensus among analysts indicates a strong outlook for Nucor, reflecting its solid fundamentals.
About Nucor Corporation
Nucor Corporation is a leading steel manufacturer based in Charlotte, North Carolina. The company engages in the production and sale of steel and related products through its Steel Mills, Steel Products, and Raw Materials segments. Nucor's strong revenue growth and strategic positioning in the basic materials sector make it a key player in the steel industry.
Bottom Line
Investors will be looking forward to Nucor's upcoming earnings report on October 26, 2026, to gauge its performance following the recent analyst adjustments. Keep an eye on future updates from analysts as they continue to evaluate the company's prospects.
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Source: JP Morgan's rating change on $NUE (Oct 9, 2026). Written by software, not financial advice. How we make alerts