EnerSys initiated with a Buy at Roth MKM

Roth MKM analyst Chip Moore initiated coverage of EnerSys with a Buy rating and $120 price target. EnerSys is a leading industrial energy storage solutions provider and is well positioned as a “critical enabler of energy transition and uniquely suited to meet complex and evolving power challenges for customers,” the analyst tells investors in a research note. The firm expects innovation around secular trends of electrification, automation and digitization to drive the company’s future growth.