Generac Holdings ( NYSE: GNRC ) on Thursday rose as much as 6.1% to reach a five-week high of $102.73 a share amid broader gains for stock-market benchmarks. The maker of backup generators and solar-power supplies has gained as much as 12% in the past two days.
Analysts at Janney Montgomery Scott yesterday rated Generac ( GNRC ) a Buy as they began research coverage of its stock. They said the shares are trading at a discount compared with industrial and solar-energy peers, and estimated their fair value at $160.
Generac ( GNRC ) faces hurdles in the coming year as distributors of generators work down their inventories. The company has forecast revenue improvements by the second half of the year.
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Generac hits 5-week high with strong gains for second day