Polypore (PPO), LG Chem May See Pressure as Reduction in Volt Production 'Inevitable' -Axiom (GM)
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Johnson believes shares of Polypore are currently overvalued; the analyst maintains a Sell rating and $24 price target on the stock.
General Motors said earlier Thursday February sales rose 1.1 percent as small compact car sales grew 43 percent.
While Johnson did not mention the battery supplier, A123 (Nasdaq: AONE) is the current supplier for the Volt's lithium-ion battery technology.
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Analyst CommentsComments
Polypore is far more than just Volt supplier.
Polypore determines their production schedule by far more than just the Volt, as Axiom's Gordon Johnson attempts to cause people to believe. Polypore is expected to produce battery separators for 25 more cars by 2013, and 50 more then they are in now by 2015. And not just for EDVs, but for hybrid as well, with Nissan, BMW, Audi, and many others. Buses and upcoming FedEx trucks are also in the works. It is slanderous to imply that their business is so fully targeted simply to the Volt.
FWIW, Polypore is growing substantially even on their other products for lead-acid batteries, medical devices, water filtration, etc. Volt shipments are increasing substantially.
If you are thinking of following Gordon Johnson's analysis into a short position, at least inform yourself by listening to or reading the latest Polypore conference call for full facts and understanding of their business model. They own very valuable patents and technology that has been unobtainable by well-funded business that have tried and failed to enter their lucrative growth market.
wrong
LG is battery supplier of Volt stupid
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PPO vehicles
Bob on Mar 2, 2012 02:02 PMMark as Spam | Reply to this comment
Johnson, your numbers are actually low. The company updated that. They are currently in 25 vehicles on the road today, and expect to be on 50 vehicles by 2012. They are working with over a hundred vehicles, and growing, that are expected to be on the road by 2015. This all came from their last earnings call.