Raymond James raised the firm’s price target on Electrovaya (ELVA) to $9.50 from $6 and keeps a Strong Buy rating on the shares. The firm continues to believe that the strong trend in the material handling segment towards lithium-ion batteries provides ample room for Electrovaya to continue to drive profitable top line growth. With several key announcements around new verticals in the quarter, it tis clear that Electrovaya’s technological capabilities are being recognized across various markets, the analyst tells investors in a research note.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ELVA:
- Midday Fly By: Disney invests $1B in OpenAI, Oracle reports mixed Q2
- Electrovaya reports Q4 EPS 9c, consensus 5c
- Electrovaya sees FY26 ‘in excess of’ $83M, consensus $92.3M
- Electrovaya price target lowered to $7 from $10 at Roth Capital
- Electrovaya Achieves First Profitable Year with Record Revenue in FY 2025