Needham initiated coverage of Generac (GNRC) with a Buy rating and $248 price target and and added it to the Needham Conviction List. The company’s “dominant position” in the residential home standby generator segment gives it durable core earnings and a free cash flow backstop, while a “meaningful” data-center opportunity provide multi-year earnings growth potential that supports a continued re-rating, the analyst tells investors.
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Read More on GNRC:
- Generac Holdings: Dominant Market Position and Growth Opportunities Drive Buy Rating
- Generac price target lowered to $217 from $219 at Citi
- Generac price target raised to $196 from $180 at JPMorgan
- Generac price target lowered to $202 from $210 at Guggenheim
- Generac downgraded to Negative from Mixed view at BWG Global