Craig-Hallum analyst Eric Stine raised his price target for Aspen Aerogels to $15 from $9, while keeping a Buy rating on the shares. The analyst notes that along with "strong" preliminary Q4 results, initial 2020 guidance and news of another IP protection win, Aspen Aerogels has achieved one of its primary objectives with two agreements in the battery materials space with significant/global companies related to its proprietary carbon aerogels. While likely not resulting in revenues for 3-5 years, Stine sees this as a "meaningful achievement" as it is "strong validation" of its aerogel technology platform, opens up a high-growth end-market as the transportation industry moves towards electrification, and positions the company as a solutions provider addressing the most pressing areas of concern for electric vehicles.