Last Friday a friend pinged me to say... Here’s a story - X saying multiple bids to acquire the company. NUE at 10x eps and analysts think EPS are going to collapse from 18 this year to 12 next…. Just as the Fed is cutting? I was busy so I barely paid attention – and, to be candid – saw the “X” and somehow thought he was talking about Twitter. X is the symbol for U.S. Steel; NUE, Nucor.
I got interested in X as a potential long about 18 months ago. Valuations across the space were absurdly low as investors prepped for the Great Recession That Never Was. My 2 cents is that you’re right--Nucor will likely re-rate higher, but an additional tailwind will be the continued acceleration of industrial expansion in the U.S.
I got interested in X as a potential long about 18 months ago. Valuations across the space were absurdly low as investors prepped for the Great Recession That Never Was. My 2 cents is that you’re right--Nucor will likely re-rate higher, but an additional tailwind will be the continued acceleration of industrial expansion in the U.S.