Needham & Company Reiterates a 'Buy' on EnerSys (ENS); Solid Beat With Bullish Outlook

Needham & Company reiterates a 'Buy' on EnerSys (NYSE: ENS) price target raised from $30 to $37.

Analyst, Michael Lew, said, "EnerSys delivered strong fiscal 3Q12 results beating our estimates and also providing a better than anticipated earnings outlook. The company is clearly benefitting from solid execution and prior acquisitions that will enable its global footprint to broaden...We believe ENS shares are positioned to deliver financial upside as the demand setting stabilizes."

Needham raises FY12 EPS estimate from $2.66 to $2.92 and FY13 from $2.93 to $3.21.

For an analyst ratings summary and ratings history on EnerSys click here. For more ratings news on EnerSys click here.

Shares of EnerSys closed at $33.24 yesterday, with a 52 week range of $17.35-$40.32.

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