Needham & Company Reiterates a 'Strong Buy' on Polypore (PPO); GM's 2012 Volt Sales To Easily Ecilpse 2011

June 8, 2012 7:48 AM EDT
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Price: $60.48 --0%

Rating Summary:
    3 Buy, 12 Hold, 3 Sell

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    Up: 30 | Down: 30 | New: 23
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Needham & Company reiterates a 'Strong Buy' on Polypore International (NYSE: PPO) price target of $62.00.

Analyst, Michael Lew, said, "General Motors (NYSE: GM) has sold 7,057 Volts in U.S. through May 2012. We expect that total to exceed all of the U.S. retail sales in 2011 (7,671 units) when June figures are released during the first week of July...we expect U.S. volumes for 2012 to easily double last year’s total. There should also be incremental volume from Europe, Israel and Australia sales this year. We highlight that the Volt is one of about 50 electric vehicle (EVs) platforms that will be using Celgard material. In our view, Polypore will benefit from increased EV adoption."

FY12 EPS estimate raised from $2.25 to $2.38 and FY13 from $3.38 to $3.50.

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 $34.56 yesterday.

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