Needham & Company Reiterates a 'Strong Buy' on Polypore Int'l (PPO); Leader in a Market That Is Forecasted to Reach $61 Billion in Five Years

Needham & Company reiterates a 'Strong Buy' on Polypore International (NYSE: PPO) price target of $62.00.

Analyst, Michael Lew, said, "The forecast provided by specialty materials supplier Teijin Limited highlights the strong growth potential in the lithium ion (li-ion) battery industry for electric vehicles (EVs). In our view, Polypore is a key well-positioned supplier in a market that is projected to experience “hypergrowth” to reach ¥5 trillion (~$61B) in 2016. Despite a slight pause in production from two large automakers, we view the current PPO share price as a very compelling entry point for investors to partake in an emerging new market opportunity."

(Needham maintains FY12 EPS of $2.47 and FY13 of $3.42)

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 $35.91 yesterday.

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