Deutsche Bank Reiterates “Buy” Rating for Constellium NV (CSTM)
Constellium NV (NASDAQ:CSTM)‘s stock had its “buy” rating reiterated by research analysts at Deutsche Bank in a report released on Monday. They currently have a $35.00 price objective on the stock, up from their previous price objective of $32.00. Deutsche Bank’s price target would suggest a potential upside of 17.02% from the stock’s previous close.
The analysts wrote, “Raising Price Target by $3/share as outlook improves. Following 1Q14 results, we have updated our model to reflect Constellium’s additional planned investments in Body-in-White (BiW), Aerospace and Auto Structures. These fast-growing sectors generate higher margins than the company’s traditional product lines. We have incorporated additional planned Aluminum Lithium casthouses and Constellium’s recently announced JV in the US with UACJ into our forecasts. The company’s continued rebalancing toward higher growth segments and recent Balance Sheet improvements lead us to increase our PT by $3 to $35. Re-iterate Buy.”
Constellium NV (NASDAQ:CSTM) traded up 0.13% on Monday, hitting $29.95. The stock had a trading volume of 265,661 shares. Constellium NV has a one year low of $13.26 and a one year high of $31.11. The stock’s 50-day moving average is $29.63 and its 200-day moving average is $25.26. The company has a market cap of $3.145 billion and a P/E ratio of 16.79.
Constellium NV (NASDAQ:CSTM) last posted its quarterly earnings results on Friday, May 16th. The company reported $0.28 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.37 by $0.09. The company had revenue of $883.00 million for the quarter, compared to the consensus estimate of $929.73 million. Constellium NV’s revenue was down 3.1% compared to the same quarter last year.
A number of other firms have also recently commented on CSTM. Analysts at Zacks downgraded shares of Constellium NV from a “neutral” rating to an “underperform” rating in a research note on Wednesday, May 7th. They now have a $29.20 price target on the stock. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Constellium NV in a research note on Thursday, April 10th. They now have a $32.00 price target on the stock, up previously from $25.00. Finally, analysts at Societe Generale raised their price target on shares of Constellium NV from $25.00 to $33.00 in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $31.65.
Constellium N.V., formerly Constellium Holdco BV, is a Netherlands-based company, which is engaged in the manufacture of aluminum products and solutions.
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