Northland Capital Markets Upgrades Constellium (CSTM) to Outperform

Northland Capital Markets analyst Gus Richard upgraded Constellium (NYSE: CSTM) from Market Perform to Outperform with a price target of $21.00.

The analyst comments "We had expected CSTM's CY21 estimates to come down due to an auto chip shortage. Post earnings, estimates moved up even with multiple Q1 headwinds. No rolled aluminum capacity has been added in the last 29 years and beverage can sheet capacity is tight and prices are starting to increase. Weak aerospace recovery is modeled into estimates. Righting a wrong and upgrading to OP and increasing PT to $21 based on 5x CY22 EBITDA."

For an analyst ratings summary and ratings history on Constellium click here. For more ratings news on Constellium click here.

Shares of Constellium closed at $15.82 yesterday.

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