Axiom Capital Sees Polypore International as Overvalued

In a report published Friday, Axiom Capital analyst Gordon L. Johnson II reiterated a Sell rating and $16.00 price target on

. In the report, Axiom Capital noted, “PPO is among the most overvalued & cheered Wall Street stocks in the market today, currently trading at a 27x & 20x P/E multiple on ‘14 & ‘15 Consensus ests., despite the fact that core op. profit fell to just $110mn in '13 vs. $180mn in '11; while PPO remains grossly overvalued on current val. multiples, driven by mistruths about its position w/ both Panasonic & Samsung, it's now time to ‘show & prove' on the EPS line.” Polypore International closed on Thursday at $37.23.