Cantor Fitzgerald initiated coverage on The Elmet Group (NASDAQ:ELMT) with an Overweight rating. The price target is set at $20.00.
Shares currently trade at $15.45, near the 52-week low. This implies nearly 30% upside to the analyst's target.
The firm cites munitions and reshoring trends. Elmet supplies critical mineral processing for molybdenum, tungsten, and niobium.
Analysts see growth from defense spending and reshoring. Government contracts and acquisitions could boost earnings.
Risks include supply chain disruptions. However, government support may offset these risks.
