Needham & Company Maintains a 'Buy' on EnerSys (ENS); Benefitting from Improving Demand

Needham & Company maintains a 'Buy' on EnerSys (NYSE: ENS) price target of $37.00.

Analyst, Michael Lew, said, "The fiscal 4Q12 results were in line with pre-announced results on May 9th. Demand has picked up on a global basis with backlog close to record levels. We expect EnerSys to benefit from increased order flow combined with favorable lead prices to drive near-term growth."

Needham raises FY13 EPS estimate from $3.21 to $3.37.

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 $33.39 yesterday.

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