While Bears Remain, Most Analysts Say Downside in Polypore (PPO) Overdone
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Price: $60.48 --0%
Rating Summary:
2 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
2 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Analysts seem to be agreeing with bullish investors on Polypore (NYSE: PPO) Wednesday as the stock is bouncing following a 30 percent plunge on Tuesday. The stock last traded at $42.25, up about 11 percent for the session.
While bulls on Polypore do see some impact on financials based on the LG Chem move, most seem to suggest Tuesday's sell off was overdone. Needham's Michael Lew noted a "minimal financial impact" but pointed out the material in question is slated to be used in IT devices rather than the all-important electric vehicle segment. An analyst at BB&T said the stock is trading like lithium is going to zero. Ardour Capital's Jinming Liu maintained a Buy rating and $63 target on the stock, calling the move lower "unjustified." Stifel Nicolaus' Dilip Warrier said the news was not unexpected. Finally, Wedbush's Craig Irwin said he would be a buyer at this level and reiterated an Outperform rating.
On the bearish side of things, Wunderlich's Theodore O'Neill initiated coverage on Polypore with a Sell rating and $30 price target earlier. Axiom Capital's Gordon Johnson, who on Wednesday called news LG Chem will begin setting up for its own separator plant "detrimental" to Polypore, this morning said downside in the stock remains despite the sell off. The analyst believes Polypore will surrender a "significant" segment of its separator business should LG Chem move toward a more vertical stance. Johnson maintains a Sell rating and $26 price target.
Track all the market-moving action on Polypore with our Analyst Ratings page.
While bulls on Polypore do see some impact on financials based on the LG Chem move, most seem to suggest Tuesday's sell off was overdone. Needham's Michael Lew noted a "minimal financial impact" but pointed out the material in question is slated to be used in IT devices rather than the all-important electric vehicle segment. An analyst at BB&T said the stock is trading like lithium is going to zero. Ardour Capital's Jinming Liu maintained a Buy rating and $63 target on the stock, calling the move lower "unjustified." Stifel Nicolaus' Dilip Warrier said the news was not unexpected. Finally, Wedbush's Craig Irwin said he would be a buyer at this level and reiterated an Outperform rating.
On the bearish side of things, Wunderlich's Theodore O'Neill initiated coverage on Polypore with a Sell rating and $30 price target earlier. Axiom Capital's Gordon Johnson, who on Wednesday called news LG Chem will begin setting up for its own separator plant "detrimental" to Polypore, this morning said downside in the stock remains despite the sell off. The analyst believes Polypore will surrender a "significant" segment of its separator business should LG Chem move toward a more vertical stance. Johnson maintains a Sell rating and $26 price target.
Track all the market-moving action on Polypore with our Analyst Ratings page.
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