DA Davidson Downgrades Polypore (PPO) as LG Chem News Will Weigh Near Term

DA Davidson's Avinash Kant downgraded shares of Polypore International (NYSE: PPO) from Buy to Neutral in an intraday research note Tuesday. The analysts target was slashed from $73 to $45.

The stock is currently down a jaw-dropping 28 percent amid concerns related to reports LG Chem will have its own lithium-ion battery-separator plant running by the second half of this year.

Kant said "While we believe it takes a significant time to get a reasonable product offering and a working solution, this news could be an overhang on Polypore stock until there is more clarity on the situation."

The analyst did not adjust 2011 or 2012 estimates amid the development.

For an analyst ratings summary and ratings history on Polypore International click here. For more ratings news on Polypore International click here.

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