Aspen Aerogels downgraded to Equal Weight from Overweight at Barclays

Barclays downgraded Aspen Aerogels (ASPN) to Equal Weight from Overweight with a price target of $7, down from $13. As the pace of electric vehicle production in the U.S. slows, Aspen is recalibrating its Thermal Barrier unit while Energy Industrial “remains the stalwart underpinning” its EBITDA, the analyst tells investors in a research note. The firm says that with Thermal Barrier growth “curtailed,” it downgrades the shares “as upside seems diminished.”