Truist Initiates Coverage On Generac With Bullish View

Truist analyst Tristan Richardson initiated Generac Holdings Inc. (NYSE:GNRC) with a Buy rating and a price target of $500, implying an upside of 9.8%.
Richardson mentions that the company's core generator product has "strong brand recognition" and has become "widely associated with residential reliability during an outage."
Richardson sees Generac growth accelerating further in 2022 as quote/consultation activity has only grown in the second half of 2021, with capacity bottlenecks likely to abate.
Additionally, he states that Generac has "aggressively expanded its product offerings with battery storage and products serving the residential solar space," which he sees as another opportunity for growth.
Price Action: GNRC shares are trading higher by 5.03% at $455.56 on the last check Friday.