Raymond James is Bullish on Electrovaya Inc. (ELVA)

Electrovaya Inc. (NASDAQ:ELVA) is among the 7 Best EV Battery Stocks to Buy Now.

Raymond James is Bullish on Electrovaya Inc. (ELVA)

The Fly reported on December 12, 2025, that Raymond James reaffirmed its Strong Buy recommendation and lifted its price objective for Electrovaya Inc. (NASDAQ:ELVA) from $6 to $9.50. According to the firm, the growing trend in the material handling industry toward lithium-ion batteries helps the business maintain profitable revenue growth. Furthermore, Raymond James cited a number of significant announcements with regard to new verticals made during the quarter.  The firm claimed that these events show an increasing recognition of the corporation’s innovative technology in a variety of businesses.

Oppenheimer also started covering Electrovaya Inc. (NASDAQ:ELVA) on December 18, 2025, with an Outperform recommendation and a $14 price objective. The firm was defined by the firm as a competitive battery technology platform with defensible intellectual property in materials design, manufacture, and handling. As stated by Oppenheimer, the business has the potential to expand within the material handling industry and become a significant facilitator of the performance of autonomous mobile robots.

Electrovaya Inc. (NASDAQ:ELVA) is a lithium-ion battery firm with a focus on technology.

While we acknowledge the risk and potential of ELVA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ELVA and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.