UBS Upgrades Nucor to Buy, Sees Opportunity After Excessive Correction

UBS Group analyst Andrew Jones upgraded Nucor Corporation to Buy from Neutral, citing a recent "excessive correction" as a buying opportunity. He noted that US steel producers are largely insulated from the Iran conflict and have favorable setups due to limited direct exposure to energy and ongoing project growth supported by stronger pricing and volume backdrops. KeyBanc Capital Markets initiated coverage on Nucor with a Sector Weight rating, citing clear year-over-year improvement in profitability driven by better pricing and spreads.