UPDATE: Ascendiant Capital Initiates Coverage on Polypore International with Neutral Rating, $45.50 PT on Fair Valuation
In a report published Friday, Ascendiant Capital analyst Carter W. Driscoll initiated coverage on Polypore International (NYSE: PPO) with a Neutral rating and $45.50 price target.
In the report, Ascendiant Capital noted, “Innovation and design of microporous membranes is core sustainable advantage. Polypore's ability to innovate and penetrate new applications/markets using its proprietary polymer-based microporous membranes and separators is its core sustainable advantage. Its value proposition is adding precision porosity to polymers and creating new products and opening new end markets. Levered to adoption of electrified drive trains and Li-ion powered consumer electronic devices. While Polypore's #1 market share for lead acid battery separators provides revenue visibility and stability, the growth engine is lithium-ion battery separators. The proliferation in consumer electronic devices and the uptake in electrification of vehicle drive trains (using lithium-ion battery separators in which Polypore has #3 market position) are the two primary drivers.”
Polypore International closed on Thursday at $40.59.
Latest Ratings for PPO
|Mar 2015||Cowen & Co.||Downgrades||Outperform||Market Perform|
|Feb 2015||William Blair||Downgrades||Outperform||Market Perform|
|Feb 2015||MLV & Co.||Downgrades||Buy||Hold|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.