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Fly News Breaks for October 16, 2019
AA, BLL, CSTM
Oct 16, 2019 | 11:38 EDT
Credit Suisse analyst Curt Woodworth maintained an Outperform rating and $23 price target on Constellium (CSTM) after Ball Corp (BLL) announced earlier plans to construct a $200M aluminum cup plant in Georgia, saying Constellium is a potential supplier given its Muscle Shoals plant is just 175 miles from Ball's site in Rome, Georgia. The analyst notes that the secular growth trend in packaging and automotive towards aluminum is a major growth driver for Alcoa (AA) and other aluminum producers as well.
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