NUE has been an unreal mover over the last year. Just look at the chart: it went from around 120 last summer to crossing 250 now. That's basically doubled in less than twelve months, with most of that rocket fuel coming in the past few months. Not every day you see a boring sounding steel name go vertical like this. So yeah, it's tempting to chase, but I'm still bullish here.
Steel prices keep surprising to the upside, and NUE keeps flexing that cost advantage over the competition. Their vertical integration isn't just a buzzword, it's giving them real margin strength even as other players slap together excuses about "input costs." Plus, if those construction incentives and infrastructure spend rumors turn into action this summer, NUE is set up to be a big winner. The capacity expansions actually look smart in hindsight, not reckless. I like targeting 295.00, so that's about 40 bucks upside from here.
Not calling this risk free. If demand takes a sudden dive or steel prices correct, NUE could just as easily chill out or even give up some of these fast gains. It's not trading at fire sale multiples anymore after this run. But if earnings next quarter show management actually guiding higher, I think this rips again. This one's going to be all about how the next couple months play out on the macro side.
