Truist incrementally more positive on Generac after Investor Day

Truist keeps a Buy rating and $160 price target on Generac after the company’s Investor Day, saying the firm is “incrementally more confident” about its long-term growth trajectory and its potential to find success following two challenging years for its energy technology segment. Truist also believes that Generac will soon be able to put “all-consuming” discussions of inventory normalization behind it and shift the focus to new product launches and increased market penetration while noting that it sees significant upside value to shares for the patient investor at less than 8-times expected FY25 EBITDA multiple, the analyst tells investors in a research note.