We initiated coverage of GNRC in late October and added it to the we are reinforcing it as a Top Pick for 2026. Our $211 price target is based on 25× 2026E EPS of $8.45, with scope for multiple expansion toward ~30× as data center execution improves. At current levels (<20× 2026E EPS), we view the stock as an attractive entry point given the multi-year data center opportunity. Sussex facility announcement and a doubled backlog (>$300MM), we see improving visibility on the data center ramp as the key catalyst for 2026 estimates. We believe the Street remains underweight the data center story, suggesting meaningful upside as orders convert to revenue and backlog grows.