- NUE +1.84%
Nucor Corporation (NYSE:NUE) is included among the 15 Best Stocks to Buy for Medium Term.
Wells Fargo Upgrades Nucor (NUE) to Overweight, Raises Price Target to $167 Photo by Vitaly Taranov on Unsplash
On November 14, Wells Fargo upgraded Nucor Corporation (NYSE:NUE) from Equal Weight to Overweight and raised its price target to $167 from $147, according to a report by The Fly. The firm cited higher US steel price forecasts for 2026, which are expected to lift 2026 EBITDA by 12% to $5.1 billion.
In the third quarter of 2025, Nucor Corporation (NYSE:NUE) raised its CapEx guidance to $3.3 billion from the prior $3 billion due to accelerated project spending. The company also noted that it now supplies more than 95% of all steel products used in data centers, from the building envelope to interior infrastructure.
Nucor Corporation (NYSE:NUE) has long focused on turning a portion of its bulk steel into specialized products, such as racks for housing data center technology and doors for warehouses and large structures. These examples are particularly relevant amid the ongoing artificial intelligence (AI) investment boom. These specialized products typically carry higher margins than commodity steel and tend to have more resilient demand.
Nucor Corporation (NYSE:NUE) manufactures and sells a broad range of steel and steel products, including sheet, plate, bar, and structural steel.
While we acknowledge the potential of NUE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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