- Wells Fargo analyst Praneeth Satish initiated coverage of Generac Holdings Inc. (NYSE:GNRC) with an Overweight rating and price target of $285.
- Satish noted the company is well-positioned to benefit from the continued growth of the home standby (HSB) market.
- The analyst mentions that the company recently added clean energy solutions, including residential solar inverters and battery storage, energy management devices, and power grid software platforms.
- Satish forecasts GNRC to grow revenue at a 10-year CAGR of ~8%, driven primarily by increasing grid instability due to frequent extreme weather events and an increased reliance on intermittent renewable power generation.
- The analyst sees modest growth in the new residential solar business, which could represent a long-term upside to the analyst's model.
- Also Read: Short Seller Spruce Point Targets Generac, Alleges 'Numerous Shady M&A Deals'
- Price Action: GNRC shares are trading lower by 2.04% at $212.58 on the last check Wednesday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Wells Fargo Initiates Generac Coverage With Overweight Rating
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks