Seaport starts Materion with Buy on ‘impressive growth characteristics’

Seaport Research analyst Michael Harrison initiated coverage of Materion with a Buy rating and $135 price target. Materion is the world’s only fully integrated supplier of beryllium-based materials, and has diversified its business to include semiconductor deposition materials and precision optical coatings, the analyst tells investors in a research note. The firm says the company has “impressive growth characteristics,” with exposure to “megatrends” that are driving application growth and opportunities to innovate. Seaport believes the combination of “numerous growth levers” and improving operational execution suggest Materion can be a “growth compounder with potential to deliver multiple expansion.”