Aspen Aerogels well positioned to ‘break out,’ says B. Riley

B. Riley analyst Christopher Souther keeps a Buy rating on Aspen Aerogels with a $26 price target into the company’s Q4 results. After a challenging 2022 and slow start to 2023, the company is well positioned to "break out amid a flurry of catalysts" for the first half of the year and a margin improvement story that drives the path toward EBITDA positive in 2024, the analyst tells investors in a research note. The firm expects updates around current customers GM and Toyota. It continues to see Aspen as the best way to play the field of vehicle electrification, citing its "differentiated product and potential for significant wins" across nearly every car maker out there.