- Generac ( NYSE: GNRC ) shares gained 2% premarket on Friday after Cowen initiated coverage on the stock with an "Outperform" rating and price target of $229.
- In initiating coverage, Cowen analysts said: "We see attractive entry as valuation - the stock currently trades at 13.5x NTM P/E which is in-line with its pre-2H20 historical average - will be the primary driver in determining investor appetite going forward. With ~75%-80% share of the Residential Home Standby Generator generator market, Generac is the clear industry leader in a market that still has growth potential given its ~5.5% penetration rate. Additionally, we believe a slowdown in the housing market and continued macro uncertainty is currently priced in."
- SA Quant system rates the stock as "Hold" , while SA Authors rate it as "Buy."
- Recently, CFRA upgraded Generac to Strong Buy on generator demand
- GNRC shares have plunged more than 57% over the past year
- Generac ( GNRC ) shares are "fundamentally sound and undervalued, trading near support, making it a good buy," InvestOhTrader writes in a bullish analysis posted recently on Seeking Alpha.
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Cowen initiates Generac at outperform on attractive valuation