Truist Initiates Coverage On Generac With Bullish View
Benzinga
Oct. 15, 2021, 01:05 PM
- Truist analyst Tristan Richardson initiated Generac Holdings Inc. (NYSE:GNRC) with a Buy rating and a price target of $500, implying an upside of 9.8%.
- Richardson mentions that the company's core generator product has "strong brand recognition" and has become "widely associated with residential reliability during an outage."
- Richardson sees Generac growth accelerating further in 2022 as quote/consultation activity has only grown in the second half of 2021, with capacity bottlenecks likely to abate.
- Additionally, he states that Generac has "aggressively expanded its product offerings with battery storage and products serving the residential solar space," which he sees as another opportunity for growth.
- Price Action: GNRC shares are trading higher by 5.03% at $455.56 on the last check Friday.
