Nucor (NUE) Stock Reaches Record Peak as Bank of America Lifts Target to $290

Key Highlights

Table of Contents

Nucor (NUE) stock reached a record high of $265.14, approaching its 52-week peak of $264.67
Shares have generated a total return of 123.6% over the trailing 12 months
First quarter 2026 earnings per share of $3.23 exceeded Wall Street’s $2.82 projection
First quarter sales totaled $9.5 billion, surpassing the anticipated $8.88 billion
Bank of America Securities elevated its NUE price objective to $290 from $265 while maintaining a Buy recommendation

Nucor (NUE) achieved a historic milestone on Thursday, reaching an intraday peak of $265.14 as the steelmaker’s impressive performance streak continues. Shares advanced 2.11% during the session and have skyrocketed 123.6% over the past twelve months.

Nucor Corporation, NUE

On June 12, Bank of America Securities increased its price objective for NUE to $290 from the previous $265 target while reaffirming its Buy rating. This adjustment followed BofA’s revision of second-quarter steel pricing projections and updated market valuations throughout its North American steel and metal service center coverage universe. The firm lifted price targets across the entire sector by roughly 9% on average.

Earlier in the year, BMO Capital Markets also raised its valuation, adjusting its target from $235 to $250 based on Nucor’s robust first-quarter performance and encouraging management commentary.

Nucor’s first quarter 2026 financial results provided the primary catalyst for the recent share price surge. The company delivered earnings per share of $3.23, comfortably beating the analyst consensus of $2.82. Total revenue reached $9.5 billion, exceeding Wall Street’s forecast of $8.88 billion.

Analyst Upgrade Precedes Q2 Outlook

Bank of America’s revised valuation arrives just prior to anticipated second-quarter guidance announcements expected in the coming week from both Nucor and competitor Steel Dynamics (STLD). The firm’s updated target incorporates more optimistic Q2 steel pricing assumptions throughout the industry.

According to InvestingPro analysis, the stock is currently trading in proximity to its 52-week high. While the platform’s valuation model suggests NUE may be trading above its Fair Value calculation, it awards the company a “GOOD” financial health rating.

Nucor commands a market capitalization of roughly $59.4 billion.

Unbroken Dividend Record Extends

Nucor announced a regular quarterly cash distribution of $0.56 per share, marking its 213th consecutive quarterly dividend payment. The distribution will be paid on August 11, 2026, to shareholders of record as of June 30, 2026.

This remarkable streak of continuous quarterly dividends extends back multiple decades and represents a cornerstone attraction for yield-oriented investors.

Shares began trading on June 12 near all-time highs as the Bank of America research note circulated, providing additional momentum to a rally already underpinned by strong operational performance.

Investors will receive Nucor’s second-quarter guidance next week, offering crucial insight into whether the company’s first-quarter momentum is sustainable through the current period.

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