UPDATE: Oppenheimer Holdings Reiterates Outperform Rating, Raises PT on Generac Holdings

In a report published Monday, Oppenheimer Holdings reiterated its Outperform rating on Generac Holdings

, and slightly raised its price target from $28.00 to $29.00. Oppenheimer noted, “GNRC raised 2012 revenue guidance to up low 30%s from up low 20%s, based on demand for home standby and portable generators. In our view, the upgraded outlook reinforces how well management has positioned GNRC to optimize magnitude of leverage to outage events, and that outage events of all stripes are very ripe opportunities. Today's favorable pre-announcement almost assuredly goes back to the super derecho on June 30. Over a year span, a hurricane, a snowstorm and widespread T-storms (‘super derecho') indicate all stripes of outages work, underscoring robust strategic development of distribution and execution on sales and marketing.” Generac Holdings closed on Friday at $22.89.