Constellium price target lowered to $22 from $24 at BMO Capital

BMO Capital lowered the firm’s price target on Constellium to $22 from $24 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results in Metals & Mining. With many of the commodity prices starting to inflect and trend higher, coupled with declining interest rates, the ongoing China stimulus conversation and M&A activity, the expected sequential decline in earnings for the sector will likely be less impactful, the analyst tells investors in a research note.