Aspen Aerogels assumed with a Buy at TD Cowen

TD Cowen analyst Itay Michaeli assumed coverage of Aspen Aerogels (ASPN) with a Buy rating and $11 price target. The firm is positive on the stock’s risk/reward after the recent sell-off/reset, stating that it “fits well into its constructive view of U.S. EV demand”. Aspen’s strong gross margins and recent wins have also been encouraging, and if GM (GM) hits EV volume targets, shares are likely to outperform, the analyst tells investors in a research note.