EnerSys (NYSE:ENS) Driven by Demand Trends

EnerSys (NYSE:ENS) should benefit from growing demand trends in the reserve power and motive markets.

Needham said, "In our view, ENS shares present a solid investment opportunity in a mature and established lead acid battery technology. The company should be positioned to benefit from the improving demand trends in motive and reserve power markets. We also highlight EnerSys is a market leading battery supplier to the electric ‘motive’ transportation segment (i.e. forklifts)."

Needham & Company launched coverage on EnerSys with a "Buy" rating. Enersys was trading at $33.24, up $0.84, or 2.59 percent, as of 2:14 PM EST. They have a price target of $40 on them.