UPDATE: Stifel Nicolaus Raises PT on Polypore on Positive Industry Data
In a report published Monday, Stifel Nicolaus analyst Jeffrey Osborne reiterated a Buy rating on Polypore (NYSE: PPO), and raised the price target from $41.00 to $49.00.
In the report, Stifel Nicolaus noted, “The recently reported North American EV/PHEV/hybrid vehicle shipment data points to better than our previously expected 2Q13 demand conditions for Polypore's lithuim-ion separator business that generates 50%+ incremental margins. Furthermore, we are seeing increasingly competitive lease pricing for a number of current or soon to be introduced models where demand elasticity should translate into brighter prospects for PPO's separator sales over the coming quarters and pose a headwind for the company's still high 27% short interest. We are raising our 12-month target price for Polypore from $41 to $49 and our 2013 Adj. EPS estimate from $1.56 to $1.58.”
Polypore closed on Friday at $41.07.
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