UPDATE: Wedbush Reiterates Outperform Rating, Raises PT on Polypore International on Growth Outlook
In a report published Wednesday, Wedbush reiterated its Outperform rating on Polypore International (NYSE: PPO), and raised its price target from $39.00 to $46.00.
Wedbush noted, “We see moderate risk for Polypore's 4Q12 EPS, where revenue was likely consistent with forecasts on healthy market demand, and confirmation of a sunset for one-time capacity expansion costs would be a positive. We forecast 4Q12 rev/adjusted EPS of $193.0m/$0.54 vs. the consensus $191.8m/$0.52. The company previously guided to 4Q12 adjusted EPS range of low-50 to low 60 cents. While it is possible Polypore could see one-time costs related to their capacity expansion that might weigh down EPS, we expect management to confirm this should be the last quarter where these expenses impact results as capacity additions should be materially complete.”
Polypore International closed on Tuesday at $42.98.
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