Raymond James is Bullish on Electrovaya Inc. (ELVA)

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

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 potential of ELVA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 20 Best Performing Stocks in 2025 and 12 Best Food Stocks to Buy in 2026. 

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