Baird Downgrades Polypore International (PPO) to Neutral; Valuation Call
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Baird downgrades Polypore International (NYSE: PPO) from Outperform to Neutral. Price target $14.
To see more analyst ratings on PPO Click Here.
Polypore International, Inc., a technology filtration company, develops, manufactures, and markets microporous membranes used in separation and filtration processes.
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Serious new Chinese competition to PPO
FHVC on Oct 27, 2009 02:49 PMFOSHAN, Oct 22, 2009 (SinoCast Daily Business Beat via COMTEX) -- PowerRating -- BYD Co., Ltd. (SEHK: 1211) is scheduled to form a lithium-ion battery separator subsidiary together with Foshan Plastics Group Co., Ltd. (SZSE: 000973) in Foshan City, Guangdong Province, south China, with a total investment of about CNY 105 million. The new subsidiary has a lithium-ion battery separator production capacity of 45 million square meters or 542 tons, and it is predicted to create new revenue of CNY 229 million and a profit after tax of CNY 62.5 million after the operation, according to a data report released by Foshan Plastics. BYD, Foshan Plastics, and Foshan Plastics' top executives will separately owns 39.375%, 48.125%, and 12.5% shares in the subsidiary. Notably, Foshan Plastics will invest in the new company with a land of about 3 hectares and some cashes. The project will be another investment plan after BYD launched the new energy car business by acquiring Media & Communications Company from GD Media Holding Co., Ltd. (SZSE: 000527). Source: www.163.com (October 22, 2009)