Aspen Aerogels price target raised to $17 from $13 at Canaccord

Canaccord raised the firm’s price target on Aspen Aerogels to $17 from $13 and keeps a Buy rating on the shares. Following last week’s $75M capital raise, Aspen is entering 2024 with strong liquidity, not including the prospects for a Department of Energy loan, which should help fund its Georgia plant, the analyst tells investors in a research note. The firm cites a reduction in the overall interest rate environment, reduced balance sheet risk after the capital raise and recently announced additional manufacturer wins that impact 2025 for the target raise.