Jefferies raises Steel Dynamics, Nucor PTs on higher steel prices

Nucor

10/04/2026 16:17

** Jefferies raises price targets of U.S. steel manufacturers Steel Dynamics STLD.O and Nucor Corp NUE.N

** New PTs imply a 15.8% upside for STLD and 22.3% for NUE from their last closes

** Shares of STLD and NUE up between 1.5% and 2% in morning trading

** Brokerage constructive on U.S. steelmakers, cites easing geopolitical risks, supportive trade policies and an upcoming wave of mill maintenance

** Says U.S. steel prices continue to rise, with the outlook improving as supply tightens due to mill outages and imports dropping to multi‑year lows

** Including session moves, STLD up 13.7% and NUE up 14.8% YTD

Companies
Old PT
New PT
Steel Dynamics
$195
$220
Nucor Corp
$200
$225

 (Reporting by Megavarshini G. Somasundaram in Bengaluru)

 ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))