Generac upgraded to Buy from Hold at Truist

Truist upgraded Generac to Buy from Hold with an unchanged price target of $160. The 30% post-earnings selloff creatives an attractive entry for investors to gain exposure to a “well established name” in home and commercial backup power, the analyst tells investors in a research note. The firm says Generac’s reduced guidance has minimal impact to its near-term estimates, while Truist now sees a “bigger step up” in 2024 and 2025.