Generac transferred with a Hold, price target lowered to $98 at Stifel

Stifel analyst Stephen Gengaro lowered the firm’s price target on Generac to $98 from $150 and keeps a Hold rating on the shares as he took over coverage of the stock. He believes key growth engines over the next 5-10 years "fit in well with our growing renewable energy and energy infrastructure coverage," but he believes the high level of inventory in distribution channels, coupled with the need to expand its dealer base and the uncertain economic environment, are headwinds for the shares in the near-term, Gengaro said.