BofA upgraded Generac to Neutral from Underperform with a price target of $110, up from $76. Q3 results beat the firm’s expectations and the “bulk of the delta” was driven by improving home standby generator sales, the analyst tells investors. Combined with the latest commercial and industrial results, the FY23 guidance “appears more attainable” and shares “look increasingly de-risked,” the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GNRC:
- Generac selected by Department of Energy as qualified vendor in Puerto Rico
- Generac upgraded to Buy at Guggenheim as inventory workdown nears end
- Generac upgraded to Buy from Neutral at Guggenheim
- Generac price target lowered to $117 from $131 at Wells Fargo
- Generac upgraded to Buy from Hold at Stifel