Analyst George Gianarikas of Canaccord Genuity maintained a Buy rating on Generac Holdings (GNRC – Research Report), with a price target of $200.00.
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George Gianarikas has given his Buy rating due to a combination of factors related to both market conditions and Generac’s business outlook. The analyst notes that Generac is positioned well in its core markets, particularly with a dominant market share in the home standby generator sector. Additionally, the company is expected to benefit from the increasing frequency of power outages, driven by extreme weather events, which is likely to fuel demand for Generac’s products.
Moreover, Generac holds potential in the clean energy space, with initiatives such as residential solar and battery storage systems, and partnerships in electric vehicle charging. Despite some adjustments in estimates for the commercial and industrial segments due to economic stagnation and policy risks, the analyst maintains a favorable outlook, citing Generac’s robust growth prospects compared to its peers. The company’s projected revenue and earnings growth, coupled with its strategic initiatives, support the Buy rating and justify a target price of $200.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $185.00 price target.
GNRC’s price has also changed slightly for the past six months – from $139.640 to $142.710, which is a 2.20% increase.