Shares of Constellium NV (CSTM) are soaring 5.01% in intraday trading on Wednesday, following positive analyst reports from J.P. Morgan and Deutsche Bank. The surge comes as both financial institutions reaffirm their bullish stance on the aluminum products manufacturer.
J.P. Morgan analyst Bill Peterson maintained a Buy rating on Constellium, setting a price target of $17.00. Similarly, Deutsche Bank analyst Corinne Blanchard reiterated a Buy rating with an even more optimistic price target of $19.00. These endorsements from major financial institutions have likely boosted investor confidence in Constellium's growth prospects.
The upbeat analyst views suggest that Constellium's business fundamentals remain strong, despite broader market uncertainties. Investors appear to be responding positively to these expert opinions, driving the stock's significant intraday gain. As the trading session progresses, it remains to be seen whether Constellium can maintain this momentum and close near its intraday highs.
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