Materion price target raised to $133 from $128 at CL King

CL King analyst David Silver raised the firm’s price target on Materion to $133 from $128 and keeps a Buy rating on the shares. During the firm’s recent discussions with management, CEO Jugal Vijayvargiya noted that the company’s above-consensus Q1 results represented the ninth consecutive quarter of double-digit organic growth, demonstrating the continued power of the company’s outgrowth initiatives in aerospace, automotive, and energy end-markets, the analyst tells investors in a research note. Characteristic attention to detail has enabled Materion to nimbly navigate the past few years of heavy industry cyclicality, pandemic-related demand and logistical challenges, as well as labor and input cost volatility, CL King contends.