Downgrades

Shares of Polypore International Inc. (NYSE: PPO) are under heavy pressure today after Sidoti downgraded the stock from Buy to Neutral. Shares are down 6.8% in afternoon action.

Polypore International, Inc., a technology filtration company, develops, manufactures, and markets microporous membranes used in separation and filtration processes.

Davenport downgrades Exelon Corp. (NYSE: EXC) from Buy to Neutral

Davenport analyst says, "We are lowering our rating on Exelon to Neutral in the wake of the company’s announcement this morning that it was raising the exchange ratio in its unsolicited offer to acquire NRG Energy (NYSE: NRG) from 0.485 EXC shares to 0.545 EXC shares for each NRG share...Notwithstanding Exelon’s discussion of newly discovered synergies, that it indicated was the basis of its higher offer, we still believe the new transaction to be EPS dilutive to EXC, and not in the best interest of its shareholders... Our pro-forma numbers, which assume $200 million of annualized cost synergies, offset by $87 million in added annual finance costs, as well as $1.1 billion of new common equity, but does not reflect any reduction of margin from assets to be divested, show the new transaction as being EPS dilutive, with our 2010 estimate of $4.14 being reduced to $3.94 on a pro-forma basis, and our 2011 estimate of $4.55 lowered to $4.24 on a pro-forma basis."

To see more analyst ratings on EXC Click Here.

Exelon Corporation (Exelon) is a utility services holding company. It operates through its principal subsidiaries Exelon Generation Company, LLC (Generation), Commonwealth Edison Company (ComEd) and PECO Energy Company (PECO).

Deutsche Bank downgrades Johnson Controls (NYSE: JCI) from Buy to Hold. Price target $23.

Deutsche analyst says, "Shares have risen 161% since our upgrade on March 12th, compared to 23% for the S&P500. Our upgrade was based on our belief in JCI's ability to mitigate downside in its Auto segment, and our belief that JCI's Power Solutions & Building Efficiency businesses were less cyclical than implied by JCI's valuation. While we continue to believe that JCI will restructure its Auto segment to profitability by year-end, and navigate a temporary slowdown in its B.E. segment in 2010, we believe valuation reflects the current outlook...We believe that JCI's Building Efficiency segment results could weaken short-term, as the education, health and gov't sectors could lag a recovery in the overall construction market. Longer-term, JCI remains bullish on opportunities for the Building Efficiency business from the Federal Stimulus package, which included $12bn of revenue opportunities for products and services such as those offered by JCI."

To see more analyst ratings on JCI Click Here.

Johnson Controls, Inc. (Johnson Controls) provides automotive interiors, products and services that optimize energy usage in buildings and batteries for automobiles and hybrid electric vehicles, along with related systems engineering, marketing and service expertise.

Raymond James downgrades Canadian Pacific (NYSE: CP) from Outperform to Market Perform.

Canadian Pacific Railway Limited, through its subsidiaries, operates a transcontinental railway in Canada and the United States.

Raymond James downgrades Canadian National Railway Company (NYSE: CNI) from Outperform to Market Perform with a $52 price target.

For more analyst ratings on CNI click here.

Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business in North America.