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In a report published on Friday, Ascendiant Capital Markets initiated coverage on Polypore International (NYSE: PPO) with a Neutral rating and a $45.50 price target.
In the report, analysts from Ascendiant commented that Polypore International is "Fairly valued given the anticipated but uncertain volume growth in EDVs. Polypore is trading at 19.8x our 2014E EPS of $2.10, above its peers but, we believe, deserving of a premium multiple. The company has a defensible #1 position in lead acid separators, is levered to growing proliferation of Li-ion battery-based consumer electronics and electrification of vehicle drive trains, and is geographically positioned in the fastest APAC growing markets. Our target price of $45.50 is the average of a 5-year DCF and relative multiples (1.0x P/E/G of 22% 5-year CAGR in EPS or 22x 2014E EPS)."
Polypore closed on Thursday at $40.59
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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