UPDATE: Credit Suisse Downgrades Constellium NV to Neutral, Lowers PT as Valuation is No Longer Compelling

In a report published Monday, Credit Suisse analyst Julian Mitchell downgraded the rating on

from Outperform to Neutral, and lowered the price target from $33.00 to $32.00. In the report, Credit Suisse noted, “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 closed on Friday at $30.24.