Stifel Nicolaus analyst Stephen Gengaro has reiterated their bullish stance on GNRC stock, giving a Buy rating on September 11.
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Stephen Gengaro has given his Buy rating due to a combination of factors that highlight Generac Holdings’ potential for growth. One of the primary reasons is the promising opportunity in the data center market, where Generac’s high-output diesel generators are expected to meet the growing demand for emergency backup solutions. The company has already secured a significant backlog and is poised to benefit from large-scale RFPs, indicating strong future revenue potential.
Additionally, Generac’s recent launch of next-generation home standby generators, which feature improved technology and efficiency, is expected to drive sales. Despite some short-term challenges due to below-trend outage activity, the company’s strategic initiatives, including potential growth in California and strong free cash flow, position it well for long-term success. These factors collectively support the Buy rating and the target price of $210.
In another report released on September 11, TD Cowen also maintained a Buy rating on the stock with a $220.00 price target.