Materion price target lowered to $135 from $150 at Seaport Research

Seaport Research lowered the firm’s price target on Materion to $135 from $150 and keeps a Buy rating on the shares. The company recently reduced its estimates for FY24, which is due to the operational issues and underlying market weakness experienced in 1H of 2024, the analyst tells investors. The firm believes the company can still show some sequential improvement in Q4 and momentum into 2025 from key markets.