Generac price target lowered to $133 from $144 at Citi

Citi analyst Vikram Bagri lowered the firm’s price target on Generac to $133 from $144 and keeps a Neutral rating on the shares following the analyst day. In 2024, slower pace of inventory normalization and lower big ticket discretionary spending should limit home standby generator growth, the analyst tells investors in a research note. The firm prefers to see progress on Generac’s key metrics before becoming more constructive on the shares.