Piper Sandler raised the firm’s price target on Generac (GNRC) to $200 from $190 and keeps an Overweight rating on the shares. Interest rates remain elevated and Republicans will control the Presidency and Congress, which has resulted in “dismal” equity performance for the renewable and alternative energy group, the analyst tells investors in a research note. However, the firm sees a low probability of a “hard landing” on the Inflation Reduction Act as it pertains to power supply or manufacturing credits. Piper’s base case could be supportive of equity gains for utility-scale equipment leaders “once the dust settles.”
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Read More on GNRC:
- Generac price target raised to $210 from $185 at Stifel
- Generac price target raised to $175 from $156 at Wells Fargo
- Generac price target raised to $183 from $172 at TD Cowen
- Generac price target lowered to $181 from $187 at Baird
- Generac Holdings Sees Strong Q3 Sales and Margin Expansion
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
