Constellium added to Q2 Tactical Ideas List at Wells Fargo

Wells Fargo analyst Timna Tanners added Constellium (CSTM) to the firm’s Q2 Tactical Ideas List. The firm says the company is a beneficiary of particularly strong aluminum-scrap spreads, fueled by steep aluminum prices and regional premium strength in the U.S./Europe and steady scrap input costs. Further catalysts could come from aero supply chains begin to restock in the second half of the year and into 2027E; its recent shift to U.S. GAAP reporting and a U.S. primary listing fueling new index inclusion; and rerating from below-peer multiples as a result of points 1 and 2, Wells adds. The firm has an Overweight rating on the shares with a price target of $29.