Aspen Aerogels price target lowered to $30 from $41 at TD Cowen

TD Cowen analyst Jeff Osborne lowered the firm’s price target on Aspen Aerogels (ASPN) to $30 from $41 and keeps a Buy rating on the shares. The firm noted they raised 2024 guidance for 3rd time this year supported by strong GM units. Announcement of 7th EV OEM award validates best in class product for thermal runaway mitigation. Economics on Georgia are attractive. Remain constructive and see potential closing the DOE loan as a clearing event.