- Materion should see strong recoveries in multiple end-markets in 2021 and 2022, helping restore revenue growth and operating margin leverage.
- Optics Balzers looks like a good deal that can drive long-term synergies, and the company's commitment to value-added R&D should support revenue growth.
- The investment thesis is muddled with respect to valuation and sentiment; recovering markets and operating leverage argue for Materion, but the long-term valuation isn't completely compelling.
For further details see:
Materion's Multiyear Self-Help Drive Should Get A Boost From End-Market Recoveries