Wall Street Zen Upgrades Nucor to Buy Rating

Analysts cite improving mill backlog and limited energy exposure as factors supporting the upgrade.

Mar. 28, 2026 at 5:25am

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Wall Street Zen, an equity research firm, has upgraded shares of Nucor Corporation (NYSE: NUE) from a 'hold' rating to a 'buy' rating in a new research report. The analysts cited Nucor's stronger-than-expected Q1 2026 earnings guidance and the company's improved mill backlog and limited direct energy exposure as factors supporting the upgrade.

Why it matters

The upgrade from Wall Street Zen, a well-respected research firm, provides a high-profile bullish catalyst for Nucor's stock. The improved outlook and insulation from geopolitical risks could help drive the stock higher, as the recent pullback is seen as an 'excessive correction' by analysts.

The details

In the research report, Wall Street Zen analysts lifted their price target on Nucor shares to $190, up from the previous target of $184. This new price target implies potential upside of around 16% from the stock's current trading level. The analysts noted that Nucor's Q1 2026 earnings guidance of $2.70-$2.80 per share was stronger than expected, and that the company's improving mill backlog and limited direct energy exposure help insulate its results from geopolitical risks.

  • Nucor issued its Q1 2026 earnings guidance on March 25, 2026.
  • Wall Street Zen published its research report and upgraded Nucor to a 'buy' rating on March 28, 2026.

The players

Wall Street Zen

An equity research firm that covers Nucor Corporation and other steel industry stocks.

Nucor Corporation

An American steel producer headquartered in Charlotte, North Carolina that operates a network of steel mills, recycling facilities, and fabrication plants across the United States and North America.

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What’s next

Investors will be closely watching Nucor's upcoming Q1 2026 earnings report to see if the company can deliver on its stronger guidance. The stock's performance will also be influenced by broader macroeconomic and geopolitical developments that could impact steel demand and pricing.

The takeaway

The upgrade from Wall Street Zen provides a bullish catalyst for Nucor's stock, as the analysts see the recent pullback as an opportunity to buy the shares. Nucor's improved operational outlook and insulation from energy-related risks appear to be the key factors supporting the more positive view on the company.