Needham & Company Reiterates a 'Strong Buy' on Polypore (PPO) After New Supply Agreement Announced

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Needham & Company reiterates a 'Strong Buy' on Polypore International (NYSE: PPO) price target of $50.00.

Analyst, Michael Lew, said, "The 8K filing by Exide Technologies (Nasdaq: XIDE)(N/C) highlighting a new three-year agreement with the Daramic division provides increased financial visibility for Polypore’s lead acid business, which accounts for 50% of total sales. While no additional details were provided, it supports our view that lead acid separator uptake is increasing. We estimate the demand trends for over 80% of the company’s business are improving."

For an analyst ratings summary and ratings history on Polypore International click here. For more ratings news on Polypore International click here.

Shares of Polypore International closed at $36.36 yesterday, with a 52 week range of $30.39-$69.74.

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