Nucor (NUE) Stock Hits All-Time High as BofA Sets $290 Target

TLDR

• Nucor (NUE) stock hit an all-time high of $265.14, trading near its 52-week high of $264.67
• The stock has delivered a 1-year total return of 123.6%
• Q1 2026 EPS came in at $3.23, beating analyst estimates of $2.82
• Q1 revenue hit $9.5 billion, above the $8.88 billion forecast
• BofA raised its price target on NUE to $290 from $265, keeping a Buy rating

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Nucor (NUE) hit an all-time high of $265.14 on Thursday, continuing a strong run for the steel manufacturer. The stock has gained 2.11% on the day and is up 123.6% over the past year.

Nucor Corporation, NUE

Bank of America raised its price target on NUE to $290 from $265 on June 12, keeping a Buy rating on the stock. The move came as BofA updated its Q2 steel price forecasts and marked-to-market estimates across its North American steel and metal service centers coverage. Price targets across that group rose by an average of 9%.

BMO Capital also lifted its target earlier this year, moving from $235 to $250, citing Nucor’s strong Q1 start and positive outlook from management.

Nucor’s Q1 2026 results were the main driver of recent momentum. The company posted EPS of $3.23, clearing the $2.82 analyst consensus. Revenue came in at $9.5 billion, above the $8.88 billion estimate.

BofA Update Ahead of Q2 Guidance

BofA’s revised target comes just ahead of Q2 guidance releases expected next week from both Nucor and Steel Dynamics (STLD). The bank’s update reflects improved Q2 steel price assumptions across the sector.

InvestingPro data shows the stock is trading near its 52-week high. The platform’s analysis flags NUE as currently overvalued relative to its Fair Value estimate, though it assigns a “GOOD” financial health score to the company.

Nucor’s market cap sits at approximately $59.4 billion.

Dividend Streak Continues

Nucor declared a quarterly cash dividend of $0.56 per share, its 213th consecutive quarterly dividend payment. The dividend is payable on August 11, 2026, to stockholders of record as of June 30, 2026.

That streak of uninterrupted quarterly dividends stretches back decades and remains a key feature of the stock for income-focused investors.

The stock opened June 12 trading near record levels as the BofA note hit the wire, adding further fuel to a rally already built on solid fundamentals.

Q2 guidance from Nucor is due next week, which will give investors the next clear read on whether momentum from Q1 carries into the current quarter.