Constellium initiated with a Buy at UBS

UBS initiated coverage of Constellium (CSTM) with a Buy rating and $38 price target The firm believes the market is “too bearish” on used beverage can spread normalization, saying it will be sustainably higher in the next few ears due to S232 tariffs. These “higher for longer” spreads are not priced into Constellium shares, the analyst tells investors in a research note.