UPDATE: D.A. Davidson & Co. Reiterates On Polypore International On Positive EDV Trend

In a report published Monday, D.A. Davidson & Co. analyst Avinash Kant reiterated a Buy rating on

, and raised the price target from $51.00 to $55.00. In the report, D.A. Davidson & Co. noted, “Yesterday, Tesla (TSLA - $205.56) announced that in an effort to expand the adoption of battery-powered vehicles, the company is making their patents ‘open source'. While the outcome of this move will not be known for some time, we do see the potential that it will drive other manufacturers to adopt EDV technology for new and existing models. "Tesla has found considerable success in the EDV market with the production run rate of the flagship Model S reaching a record 7,535 units in Q1:CY14 and is expected to reach 8,500-9,000 units in Q2:CY14, trending well above the 22,477 units sold in CY13. Historically, Tesla has collaborated with several other manufacturers and recently has been meeting with BMW, suggesting they build their own gigafactory.” Polypore International closed on Friday at $46.88.