Aspen Aerogels loan should allow for second facility, says H.C. Wainwright

H.C. Wainwright keeps a Buy rating on Aspen Aerogels with a $30 price target after the company announced that it has received a conditional commitment from the Department of Energy for a loan of up to $670.6M. The firm believes the conditional commitment should allow the company to “comfortably complete” the build-out of its second aerogel manufacturing facility. It is projecting Aspen’s revenues to increase from $403M in 2024 to $2.3B in 2034.