Aspen Aerogels price target raised to $38 from $33 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Aspen Aerogels to $38 from $33 and keeps a Buy rating on the shares. Aspen Aerogels has secured a design award with Valmet Automotive for the supply of PyroThin for the Porsche next gen Series 718 lineup, and Craig-Hallum sees the opportunity for this to expand to other Porsche vehicles, the analyst tells investors in a research note. The firm also notes healthy business trends, strong execution, a robust growth outlook for Energy Industrial and PyroThin, and several potential share catalysts.