Barclays lowered the firm’s price target on Generac (GNRC) to $188 from $200 and keeps an Equal Weight rating on the shares. The firm expects the weaker storm season to weigh on Generac’s Q3 results. The company’s revenue and margins are likely to miss both guidance and consensus estimates, the analyst tells investors in a research note. However, Barclays believes additional center capacity will be announced by year-end, which would provide upside to Generac’s $500M annual revenue opportunity already communicated.
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