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William Blair still bullish on Polypore amid sell-off

Nov. 05, 2013 1:41 PM ETPolypore International, Inc. (PPO) StockPPOBy: Colin Lokey, SA News Editor1 Comment
  • William Blair is sticking with an Outperform rating for Polypore (PPO -14.6%) even as the stock sells-off on weaker-than-expected Q3 numbers.
  • "We believe ... that one or more of PPO's key customers in the electric vehicle market ... is putting pressure on [the company] to reduce the price of separator material, and that one or more customers is employing the tactic of slowing or halting purchases of separator material as a negotiating tactic," analyst Brian Drab says, interpreting management's comments regarding weakness in the EDV segment.
  • Ultimately, Drab likes the company's competitive position and improving free cash flow, and expects an "eventual ramp in lithium separator sales."

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