J.P. Morgan Upgrades Constellium to Overweight Following Strong Q3 Earnings
Constellium (CSTM) shares experienced a slight decline of 1.2% during Thursday's trading session despite positive fundamental developments. The company reported third-quarter adjusted EBITDA of $280 million, surpassing analyst expectations and demonstrating robust operational performance. Following these results, J.P. Morgan upgraded the aluminum products manufacturer from Neutral to Overweight, setting a price target of $35. This upgrade is supported by Constellium's decision to raise its full-year EBITDA guidance, signaling confidence in continued growth opportunities within the sector.
Topics: analyst_upgrade earnings EBITDA guidance
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