EnerSys price target raised to $116 from $110 at Oppenheimer

Oppenheimer analyst Noah Kaye raised the firm’s price target on EnerSys to $116 from $110 and keeps an Outperform rating on the shares. The firm notes EnerSys substantially raised Q3 guidance and increased its annualized estimate for battery manufacturing tax credits by $40M at midpoint. The company’s update follows last week’s favorable Section 45X clean energy manufacturing tax credit guidance from Treasury.