Nucor Corporation (NYSE:NUE) — Nucor is the largest mini-mill steelmaker in the U.S. with one of the most diverse product lines of a steelmaker in America. Its management’s goal is to add product breadth and, through acquisitions, enhance its product line to meet the needs of the construction and infrastructure markets.
Standard & Poor’s points out that the company’s strong balance sheet and cash flows are a major advantage in a competitive market.
S&P expects 2016 operating earnings-per-share to come in at $2.16, up from $1.11 in 2015.
They forecast earnings of $3.40 in 2017.
Their 12-month price target is $75.
Yesterday Zacks Investment Research placed a “buy” recommendation on NUE with a growth score of “A.”
Following the presidential election and the new administration’s emphasis on growth of the nation’s infrastructure, NUE’s stock broke from a consolidation with support at its 200-day moving average at under $50 to a high in December at $68. Since then, profit-taking drove the stock down to what appeared to be a possible neck line of a Head-&-Shoulders Top at $59.50.
However a break of that line failed when buyers entered, causing a CBR Buy signal from my proprietary indicator on Friday, followed by an outside reversal (up) yesterday. Volume on both reversal days was higher than normal. Therefore, buy NUE at $61 for an intermediate-term trade to $73 for a proposed return of almost 20%.
— Sam Collins, Trade of the Day
The Ultimate Marijuana Stock to Go Ballistic in the Next 90
Recreational marijuana is set to become legal in Canada this fall. And the result will send this stock soaring. If you act quickly, before most Americans catch on, you, could turn every $10,000 you invest into $30,000, $40,000, $50,000, or more. This Special Report reveals the No. 1 Marijuana Stock to Buy Now - Read It Here.
Source: Investor Place