Stifel raised the firm’s price target on Generac to $150 from $135 and keeps a Buy rating on the shares. The firm, which believes Generac is well positioned by tailwinds in 2024 from normalized inventory levels, gradually rising penetration rates for home standby generators, and traction from residential energy technology products, calls the stock “one of our favorite names.” Generac is likely to continue to deliver strong free cash flow and return cash through its “sizable” buyback program, the analyst added.
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