Stifel Canada on Friday maintained its buy rating on the shares of Neo Performance Materials (NEO.TO) and its C$23.00 price target following the company's fourth-quarter results.

"NEO delivered strong 4Q25 results with EBITDA of $20 mm beating consensus by 35% while the company delivered 2026E EBITDA guidance of $77.5 mm, which we view as conservative. We continue to believe the current pricing environment positions NEO well to deliver surprise to the upside. For the time being, we have increased our 2026E EBITDA by 14% to $82 mm, above the company's upper range guidance of $80 mm. We have also taken a conservative approach and are forecasting Magnequench EBITDA at $31 mm compared to a run rate EBITDA $25-30 mm, and we believe there is potential to deliver a sizable beat in that segment. We are increasing our TP to C$25.50 (prior: C$23.00) while reiterating our BUY rating," analyst Ian Gillies wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 21.29, Change: +0.82, Percent Change: +4.01