UPDATE: DA Davidson Downgrades Polypore International to Neutral

DA Davidson lowers its rating on Polypore International

to Neutral from Buy on near-term concerns stemming from battery separator competition from current customer. DA Davidson notes, "During its Q4:CY11 business results and outlook presentation this morning, LG Chem, a PPO customer, indicated specific capital spending plans for expansion into the separator business. While we believe it takes a significant time to get a reasonable product offering and a working solution, this news could be an overhang on Polypore stock until there is more clarity on the situation." PPO closed at $38.08 a share on Thursday.