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

In a report published Monday, BMO Capital Markets reiterated its Outperform rating on Generac Holdings

, 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.