Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Generac Holdings Inc. (NYSE:GNRC), an American manufacturer of backup generators, has been thrust into the investor spotlight again after Hurricane Irma.
One week after the Category 5 hurricane decimated Florida, over 2.5 million households in Florida and surrounding states are still left without power. Floridians who hunkered down to withstand Irma’s plight relied on backup generators to make it through the week.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
With millions of evacuees return to their homes unbeknownst to their condition, Bank of America analyst Ross Gilardi believes a pickup in home standby generator demand is inevitable. As a result, Gilardi upgraded the stock from Neutral to Buy, with a price objective of $50.
Beyond growing demand domestically, internationally the company also seeing a sizeable opportunity, with Gilardi expecting international EBITDA margins to double year over year in the second half of 2017.
Generac’s industrial business is also seeing an uptick, with equipment rental companies buying again on improved pricing and tightening market conditions.
“A major hurricane rebuilding effort forthcoming in TX and Florida could also lead to stronger demand for the Mobile products business,” said Gilardi.
The analyst raised 2018-2019 EBITDA estimates by 7-10 percent and increased his price target from $45 to $50.
Shares closed Friday up nearly 5 percent at $45.28.
Related Link:
Can Generac Hold Its Charge After Harvey And Irma?
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.