Wells Fargo upgrades Constellium to Overweight, raises target to $25

As previously reported, Wells Fargo upgraded Constellium (CSTM) to Overweight from Equal Weight with a price target of $25, up from $17. Heading into 2026, the firm is downgraded four names and upgrading one in the construction materials, mining, special metals and steel, to express caution on public infrastructure and commodity price momentum after a strong month. Wells believes Constellium benefits more from scrap spreads expanding.