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Constellium receives “buy” rating from Goldman Sachs analysts
Edited by : AL CIRCLE
1 min read
Equities researchers at Goldman Sachs initiated coverage on shares of Constellium in a research report issued on Tuesday. The firm set a “buy” rating and a $21.00 price target on the stock. Goldman Sachs’ price target indicates a potential upside of 32.41% from the company’s current price.
The analysts wrote, “We initiate on Constellium (CSTM) with a Buy rating and 6-month price target of $21, 29% upside from current levels. We see CSTM as one of the best-positioned companies in our coverage with exposure to strong and growing aerospace markets, and a solid beneficiary of the rising steel-to-aluminum substitution in the automotive industry. Its strong position in the stable and modestly growing European beverage can market limits the volatility of earnings through the cycle. We like CSTM not only for its strong end market exposure and leading position, but also for its metal price pass-through structure that effectively removes impact of aluminum price volatility.”
Constellium opened at 15.86 on Tuesday. Constellium has a 52-week low of $13.26 and a 52-week high of $16.81. The stock’s 50-day moving average is currently $15.14. The company has a market cap of $1.419 billion and a price-to-earnings ratio of 14.81.
The analysts wrote, “We initiate on Constellium (CSTM) with a Buy rating and 6-month price target of $21, 29% upside from current levels. We see CSTM as one of the best-positioned companies in our coverage with exposure to strong and growing aerospace markets, and a solid beneficiary of the rising steel-to-aluminum substitution in the automotive industry. Its strong position in the stable and modestly growing European beverage can market limits the volatility of earnings through the cycle. We like CSTM not only for its strong end market exposure and leading position, but also for its metal price pass-through structure that effectively removes impact of aluminum price volatility.”
Constellium opened at 15.86 on Tuesday. Constellium has a 52-week low of $13.26 and a 52-week high of $16.81. The stock’s 50-day moving average is currently $15.14. The company has a market cap of $1.419 billion and a price-to-earnings ratio of 14.81.
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