Polypore International (NYSE:PPO) Looks Strong in EV Space

As far as the electric vehicle (EV) segment goes, Polypore International (NYSE:PPO) looks good as a supplier of material the industry uses to develop their products.

Needham said, "We had the opportunity to meet with management (CEO Bob Toth and CFO Lynn Amos) to discuss the competitive landscape and electric vehicle (EV) opportunity. In our view, the company has a technical advantage and is solidly positioned to help usher in a new era of transportation as a supplier of critical material that is helping to power the EV industry."

That's the nice thing about being a supplier of picks in shovels. Even if electric cars aren't that successful, the obsession of them by some guarantees companies like Polypore will be successful for some time, even if the overall industry doesn't do that well.

Needham maintains a "Strong Buy" rating on Polypore, which was trading at $32.91, down by $0.20, or 0.60 percent. Needham has a price target on them of $38.