UPDATE: Societe Generale Initiates Constellium at Buy on Good Market Position

In a report published Thursday, Societe Generale analyst Alasdair Leslie initiated coverage on Constellium CSTM with a Buy rating and $20.00 price target.

In the report, Societe Generale noted, “We are initiating our coverage of Constellium with a Buy rating and a $20 target price. Post restructuring and a streamlining of the portfolio, the company appears well positioned to take advantage of the increasing trend for new lightweight aluminium in its aerospace and automotive end-markets. A strong focus on the specialty segment limits commodity price exposure while greater adoption of more profitable Al-Li alloys in aerospace should support margin enrichment.”

Constellium closed on Wednesday at $16.83.