Deutsche Bank analyst Corinne Blanchard downgraded Constellium (CSTM) to Hold from Buy with a price target of $12, down from $22. The company reported “disappointing” Q3 results, impacted by a deteriorating demand outlook across most end markets, in the exception of packaging, the analyst tells investors in a research note. The firm says the downgrade takes into account the challenges Constellium is currently facing which are likely to persist into the next few quarters.
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