Polypore (PPO) Shares Continue Lower as Analyst Considers Hefty Volt Inventory (GM)
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Price: $60.48 --0%
Rating Summary:
2 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Polypore (NYSE: PPO) are getting crunched early Monday as traders are continuing to weigh a report late Friday from the Detroit Free Press which confirmed GM (NYSE: GM) will halt production of its Chevy Volt starting March 19th. Polypore shares fell more than 2.5 percent on Friday, and are down another 9 percent Monday.
Certainly not helping Monday, Stifel Nicolaus' Jeff Osborne issued an earlier research note suggesting GM may take 3-6 months to work through its Volt inventory unless monthly sales increase significantly. The analyst reduced his FY12 EPS estimate from $2.50 to $2.22 and his sales estimate from $791.9 million to $777.7 million. The Street FY12 consensus estimate sits at $2.54 in earnings and $815.7 million in sales.
Osborne maintains a Buy rating on Polypore shares, but reduced his price target on the stock from $50 to $48. With shares of Polypore last trading at $35.90, the Stifel analyst's new target represents potential upside of about 34 percent.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Polypore.
Certainly not helping Monday, Stifel Nicolaus' Jeff Osborne issued an earlier research note suggesting GM may take 3-6 months to work through its Volt inventory unless monthly sales increase significantly. The analyst reduced his FY12 EPS estimate from $2.50 to $2.22 and his sales estimate from $791.9 million to $777.7 million. The Street FY12 consensus estimate sits at $2.54 in earnings and $815.7 million in sales.
Osborne maintains a Buy rating on Polypore shares, but reduced his price target on the stock from $50 to $48. With shares of Polypore last trading at $35.90, the Stifel analyst's new target represents potential upside of about 34 percent.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Polypore.
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