EnerSys downgraded to Perform from Outperform at Oppenheimer

Oppenheimer analyst Noah Kaye downgraded EnerSys to Perform from Outperform. The analyst noted that EnerSys traded down Thursday on below-consensus Q3 revenue and Q4 guidance as it experienced a “more pronounced slowdown impacting multiple segments.” Oppenheimer is looking for “stronger initiatives to structurally improve margins and more effectively capitalize on growth drivers” from the company. The firm concluded that it would be more constructive on the “demonstration of sustainably higher earnings power.”