Aspen Aerogels price target raised to $24 from $23 at Seaport Research

Seaport Research raised the firm’s price target on Aspen Aerogels to $24 from $23 and keeps a Buy rating on the shares. The analyst says the company’s 2024 guidance assumptions seem very conservative. The firm views Aspen’s past five months as a “watershed period,” in which management validated the sagacity of its financing decisions for the electric vehicle thermal barriers business and convincingly demonstrated that the division can deliver both transformative growth and meaningful profitability in a slowing EV market.