Deutsche Bank trims Constellium target, cautious into earnings

Deutsche Bank lowered the firm’s price target on Constellium to $22 from $23 and keeps a Buy rating on the shares ahead of the Q3 report. The firm is exercising caution going into the results. Based on conversations and industry checks, demand trends for most of Constellium’s end markets seem to have deteriorated in Q3, in Europe but also in the U.S., especially in industrials, the analyst tells investors in a research note. Deutsche believes Street estimates are too high into the print, and says numbers will likely be revised down by the sell-side. It also see riskss to Constellium’s 2025 EBITDA guidance of EUR 800M.