BofA raised the firm’s price target on Generac (GNRC) to $260 from $224 and keeps a Buy rating on the shares. Q4 reinforced the shift from “an outage-sensitive resi story to a diversified power-resiliency platform with structural hyperscale exposure,” the analyst tells investors in a post-earnings note. The firm sees a path to doubling Commercial and industrial in three years on its estimates if Generac lands even one hyperscaler, noting that two would be upside.
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