Piper Sandler raised the firm’s price target on Aspen Aerogels to $30 from $29 and keeps an Overweight rating on the shares. On May 1st, Aspen was worth about $15/share. Today, the stock is worth about $27. In the firm’s view, this is because Q1 results contradicted a key short thesis, prompting a “squeeze.” Piper thinks bears mistakenly expected Aspen to cut guidance. Instead, the company boosted guidance.
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