Materion upgraded to Overweight from Sector Weight at KeyBanc

KeyBanc upgraded Materion (MTRN) to Overweight from Sector Weight with a $161 price target The firm cites the company’s stronger growth and higher margins for the upgrade. Recent data points within the global semiconductor consumable supply chains reflect a broadening global demand cycle, the analyst tells investors in a research note. KeyBanc believes Materion shares “will further attract cyclical growth investors.” The stock’s multiple should expand upon successful execution of its growth and margin enhancement initiatives, it contends.