Materion price target raised to $223 from $185 at KeyBanc

KeyBanc analyst Samuel McKinney raised the firm’s price target on Materion (MTRN) to $223 from $185 and keeps an Overweight rating on the shares after a strong Q1 earnings report. The firm believes shares have fundamentally commanded a higher multiple given continued confidence in outgrowth across key end markets, including semiconductors and aerospace & defense, as well as solid recoveries in industrial and consumer electronics. While Materion’s 2026 EPS guidance range remains $6.00-$6.50, management has expressed confidence in hitting the high end of the range, and KeyBanc thinks the potential remains to exceed the range given increased revenue guidance, continued A&D momentum, and structurally improved Electronic Materials margins.