Needham & Company Maintains a 'Strong Buy' on Polypore (PPO); Electric Vehicles a Shocker
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Price: $39.82 -1.9%
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade PPO Now!
Needham & Company maintains a 'Strong Buy' on Polypore International (NYSE: PPO) price target of $50.00.
Analyst, Michael Lew, said, "The outlook was weaker than anticipated due in large part to electric vehicle (EV) separator demand currently not materializing to the level as initially projected. In addition, an earthquake in Italy has resulted in a pushout of healthcare material sales. This is the primary basis for the revised outlook. Polypore is experiencing a ‘reversal of misfortune’ from a year ago when the company was capacity constrained across the major business lines. But now that capacity is available, the demand is not, as some CE customers were initially turned away because of the limited production assets. Maintain rating as we believe PPO shares will benefit from improving EV adoption based on our checks."
FY12 EPS estimate cut from $2.38 to $2.13 and FY13 from $3.50 to $3.11.
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 $37.16 yesterday, with a 52 week range of $33.60-$71.50.
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Analyst, Michael Lew, said, "The outlook was weaker than anticipated due in large part to electric vehicle (EV) separator demand currently not materializing to the level as initially projected. In addition, an earthquake in Italy has resulted in a pushout of healthcare material sales. This is the primary basis for the revised outlook. Polypore is experiencing a ‘reversal of misfortune’ from a year ago when the company was capacity constrained across the major business lines. But now that capacity is available, the demand is not, as some CE customers were initially turned away because of the limited production assets. Maintain rating as we believe PPO shares will benefit from improving EV adoption based on our checks."
FY12 EPS estimate cut from $2.38 to $2.13 and FY13 from $3.50 to $3.11.
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 $37.16 yesterday, with a 52 week range of $33.60-$71.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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