Aspen Aerogels price target lowered to $18 from $21 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Aspen Aerogels (ASPN) to $18 from $21 and keeps a Buy rating on the shares following what the firm calls “a very eventful end to 2024.” Q4 results were “solid,” but Q1 was guided below the Street and no guidance for 2025 was given in light of the timing uncertainty of when General Motors’ (GM) excess inventory clears and near-term headwinds in overall electric vehicle markets, notes the analyst, who views Aspen as positioned with a much less capital intensive business with a strong balance sheet and an outlook for improved cash generation.