Jefferies Raises Price Target on EnerSys (ENS) to $39

Jefferies boosted estimates and its price target on EnerSys (NYSE: ENS) from $29 to $39 on "flawless" executive and solid fundamentals. The firm reiterated their Buy rating.

The firm comments, "ENS is benefiting from a very resilient replacement business in the Reserve segment and strong truck orders in Motive; we see these trends sustaining at least through the end of FY12. Continued acquisitions and buildouts in developing markets will drive growth in FY13 and beyond; management has consistently executed on this strategy. We increase our estimates and raise our PT to $39; we remain conservative in our baseline assumptions."

The firm boosted Q4 EPS from $0.68 to $0.88, FY12 from $2.62 to $2.92 and FY13 from $2.99 to $3.23.

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.

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