UPDATE: Northland Capital Markets Assumes Aspen Aerogels (ASPN) at Outperform

May 12, 2021 8:02 AM EDT
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Price: $22.51 +4.16%

Rating Summary:
    6 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 12 | New: 42
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(Updated - May 12, 2021 8:02 AM EDT)

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."

For an analyst ratings summary and ratings history on Aspen Aerogels click here. For more ratings news on Aspen Aerogels click here.

Shares of Aspen Aerogels closed at $18.25 yesterday.

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