Shares of electrical equipment maker EnerSys ENS.N rise 1.26% to $166.10 in early morning trading session, after TD Cowen initiates coverage with "buy" rating; sets PT of $190
Brokerage says investors are underappreciating EnerSys's revenue growth potential
Revenue catalysts include a shift to higher average selling price maintenance-free solutions, new products, and an expansion of customer wallet through integrated energy systems, brokerage says
"We believe the team will focus on the following growth markets: 1) Lithium Uninterruptible Power Supply (UPS) for data centers, 2) Battery Energy Storage System and 3) Broadband and Telecom batteries," TD Cowen says
Four of six analysts rate stock "strong buy" or "buy" and two "hold"; their median PT is $186 - data compiled by LSEG
Including session's move, stock up 12.5% YTD