UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on EnerSys

In a report published Wednesday, Jefferies & Company reiterated its Buy rating on EnerSys

, but lowered its price target from $43.00 to $41.00. Jefferies noted, “ENS reported F2Q (Sept) quarter results that beat on the bottom line & guided F3Q EPS 11% below cons. at the midpoint. The lower guidance was due to slower order intake, although mgmt noted on the call that things are actually not as bad as late summer of last year. We would use any pullback over the next couple of quarters as an opportunity to add to positions. The stock is up approx. 60% off its 52-wk low vs S&P 500 +23.2%.” EnerSys closed on Tuesday at $35.74.