Analyst initiates Polypore with 'Buy' rating

An analyst initiated coverage of Polypore International Inc. Wednesday with a "Buy" rating, citing the company's potential in the battery market.

Merriman Curhan Ford analyst Craig Irwin said the Charlotte, N.C.-based company, which makes membranes used in batteries for cars and consumer products, represents a "unique way" to invest in the sector.

"We believe Polypore's exposure to attractive near-term growth fundamentals in consumer lithium ion and hybrid and plug-in batteries over the intermediate term could materialize as long-term drivers of value," Irwin said in a note to clients.

The stock rose 21 cents to $19.04 in afternoon trading. Earlier in the day, shares had slipped as much as $2.18, or 11 percent.