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UPDATE: BMO Capital Markets Reiterates Outperform Rating, Raises PT on Generac Holdings

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The Hurricane Matthew Disaster Play Selloff
With Hurricane Matthew Picking Up Steam, Investors Are Piling Into This Generator Stock

In a report published Monday, BMO Capital Markets reiterated its Outperform rating on Generac Holdings (NYSE: GNRC), and raised its price target from $39.00 to $42.00.

BMO Capital noted, “We believe Generac remains undervalued as a result of significant near-term product demand stemming from recent storm activity coupled with strong long-term organic growth from new product launches, channel development initiatives, and facility, and geographic expansion. Even without any additional unusual storm activity during the winter season, we believe demand from Hurricane Sandy and Athena along with base level demand will drive solid sales growth in portable, standby, and mobile generators through 2014.”

Generac Holdings closed on Friday at $34.87.

Latest Ratings for GNRC

DateFirmActionFromTo
Jan 2017Bank of AmericaDowngradesNeutralUnderperform
Mar 2016Bank of AmericaUpgradesNeutralBuy
Nov 2015SunTrust Robinson HumphreyInitiates Coverage onNeutral

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Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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