Generac price target raised to $290 from $255 at Argus

Argus analyst John Eade raised the firm’s price target on Generac (GNRC) to $290 from $255 and keeps a Buy rating on the shares after its Q1 earnings beat. The firm sees robust opportunities for Generac over the long term as volatile weather, grid instability, and the proliferation of electronic devices drive demand for the company’s backup generators, also noting that the growing data center industry is a target for the company’s new large megawatt generators, the analyst tells investors in a research note.