J.P. Morgan Raises PT On PPO To $65

J.P. Morgan has raised its price target on Polypore International PPO from $50 to $65 after the company reported strong 1Q:11 results. Says J.P. Morgan, in the report, “We raised our 2011 and 2012 EPS estimates for Polypore following the company reporting robust 1Q:11 operating results. Polypore reported 1Q:11 sales growth of 28% comprised of Energy Storage segment growth of 35% and Separations Media growth of 12%. Polypore continues to post solid results in its core markets (separators for lead-acid automotive batteries and lithium batteries for electronics/EDV's) due to growth in Asian transportation markets, and application proliferation in lithium batteries.” J.P. Morgan maintains a Neutral rating on PPO. PPO closed yesterday at $65.88.