Constellium NV Downgraded by Credit Suisse to “Neutral” (CSTM)
Constellium NV (NASDAQ:CSTM) was downgraded by analysts at Credit Suisse from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. They currently have a $32.00 price objective on the stock, down from their previous price objective of $33.00. Credit Suisse’s price target indicates a potential upside of 5.82% from the company’s current price.
The analysts wrote, “After re-evaluating CSTM, we lower our rating to Neutral and our TP to $32 (from Outperform / $33). We think consensus forecasts embed a very optimistic scenario around Auto and Aerospace aluminum penetration gains, and would take profits following the strong run-up in the stock.”
Constellium NV (NASDAQ:CSTM) opened at 30.00 on Monday. Constellium NV has a 1-year low of $16.60 and a 1-year high of $32.61. The stock has a 50-day moving average of $30.62 and a 200-day moving average of $29.26. The company has a market cap of $3.150 billion and a P/E ratio of 17.43.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs downgraded shares of Constellium NV from a “conviction-buy” rating to a “buy” rating in a research note on Friday, July 25th. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Constellium NV in a research note on Thursday, July 17th. They now have a $36.00 price target on the stock, up previously from $31.00. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Constellium NV in a research note on Monday, July 14th. They now have a $37.00 price target on the stock, up previously from $32.00. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Constellium NV has a consensus rating of “Buy” and a consensus price target of $33.80.
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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