BUZZ-EnerSys rises after TD Cowen initiates coverage with 'buy'

Reuters03-19
BUZZ-EnerSys rises after TD Cowen initiates coverage with 'buy'

** Shares of electrical equipment maker EnerSys ENS.N rise 1.26% to $166.10 in early morning trading session, after TD Cowen initiates coverage with "buy" rating; sets PT of $190

** Brokerage says investors are underappreciating EnerSys's revenue growth potential

** Revenue catalysts include a shift to higher average selling price maintenance-free solutions, new products, and an expansion of customer wallet through integrated energy systems, brokerage says

** "We believe the team will focus on the following growth markets: 1) Lithium Uninterruptible Power Supply $(UPS)$ for data centers, 2) Battery Energy Storage System and 3) Broadband and Telecom batteries," TD Cowen says

** Four of six analysts rate stock "strong buy" or "buy" and two "hold"; their median PT is $186 - data compiled by LSEG

** Including session's move, stock up 12.5% YTD

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com;))

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment