Credit Suisse analyst Maheep Mandloi lowered the firm’s price target on Generac to $159 from $165 and keeps an Outperform rating on the shares. Channel checks suggest that retail prices remain depressed due to online channels that offer immediate deliveries, the firm says. Credit Suisse also notes that oversupply of online sales is leading to installation bottlenecks as installers are less willing to take liability on products delivered from third parties. Demand growth from recent weather events in California are minimal in Q4/Q1, the firm adds.
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