In a report published Thursday, Jefferies analyst Elaine Kwei reiterated a Buy rating on EnerSys ENS, and raised the price target from $47.00 to $58.00.
In the report, Jefferies noted, “ENS reported F4Q results in line with preliminary revenue of $572 million and adjusted EPS of $0.80. ENS announced the institution of a dividend and repurchase program that is expected to return around $100 million of cash this year, and provided a bullish outlook for FY14 revenue based on current orders. We expect ENS to continue its steady trajectory of growth, with potential upside from a European recovery.”
EnerSys closed on Wednesday at $49.58.
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