Needham & Company Reiterates a 'Buy' on EnerSys (ENS); Preparing For a Slowdown That May Not Occur

Needham & Company reiterates a 'Buy' on EnerSys (NYSE: ENS), price target lowered from $42 to $36.

Needham analyst says, "EnerSys delivered a strong quarter of growth which was offset by rising commodity costs that impacted earnings performance. Demand was broad-based led by the motive power business. However, the outlook is conservative as the company is preparing for a significant slowdown that may not materialize. We believe EnerSys will aggressively manage the business to account for the demand setting in order to deliver solid financial results." (Needham lowers FY12 EPS estimate from $2.78 to $2.46 and FY13 from $3.07 to $2.71)

For more ratings news on EnerSys click here and for the rating history of EnerSys click here.

Shares of EnerSys closed at $20.74 yesterday.

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