, an analyst from Needham, has initiated a new Buy rating on Generac Holdings (GNRC).
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Needham & Company has given its Buy rating due to a combination of factors. Generac Holdings holds a dominant position in the residential home standby generator market, capturing over 70% of the domestic market share. This strong market presence ensures stable core earnings and provides a solid free cash flow foundation.
Furthermore, the company is poised to benefit from the reduction of energy-technology margin pressures and the significant growth opportunity in the data-center sector, which has a total addressable market exceeding $5 billion. These elements contribute to a multi-year earnings growth potential, supporting the continued positive re-evaluation of Generac’s stock.
In another report released on October 20, Bank of America Securities also reiterated a Buy rating on the stock with a $221.00 price target.