UPDATE: Northland Capital Markets Assumes Aspen Aerogels (ASPN) at Outperform
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Northland Capital Markets analyst Doug Becker assumes coverage on Aspen Aerogels (NYSE: ASPN) with a Outperform rating and a price target of $27.00.
The analyst comments "We forecast ASPN to double revenue by ’23 and again by ’25 given increasing adoption of its products into electric vehicles (EVs) and a recovery in its legacy energy infrastructure business. At a ’23 EV/Revenue multiple of 2.2x, we believe this growth is only partially priced in and expect incremental contracts to de-risk the outlook and move the shares higher."
Shares of Aspen Aerogels closed at $18.25 yesterday.
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