Market Overview

UPDATE: Bank of America Upgrades Generac Holdings to Neutral on Sandy Impact

Share:
Related GNRC
Benzinga's Top Upgrades, Downgrades For October 2, 2018
Trading Hurricane Florence: Investors Make Storm Stock Picks

Bank of America raised its rating on Generac Holdings (NYSE: GNRC) from Underperform to Neutral and increased its price objective from $27 to $37.

Bank of America commented, "We upgrade GNRC from Underperform to Neutral as power disruptions postHurricane Sandy will likely have a sustained impact on demand in the next 12-24 months, making GNRC more a growth story than we have foreseen. Additionally, we think that a continued pick up in the US housing market will benefit GNRC. We raise '12 and '13 EPS, and now expect the company to deliver robust double-digit growth into the next year. We raise our PO from $27 to $37, as we expect the stock to receive an above-average multiple over the next year, reflective of premium growth momentum and investors' positive sentiment on Sandy-themed stocks."

Generac Holdings closed at $33.59 on Wednesday.

Latest Ratings for GNRC

DateFirmActionFromTo
Oct 2018KeyBancDowngradesOverweightSector Weight
Sep 2018KeyBancMaintainsOverweightOverweight
Sep 2018Canaccord GenuityMaintainsHoldHold

View More Analyst Ratings for GNRC
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (GNRC)

View Comments and Join the Discussion!
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

UPDATE: Benchmark Downgrades PriceSmart to Hold on Valuation

UPDATE: Credit Suisse Downgrades Magellan Midstream Partners to Neutral on Valuation