Jeff Osborne, an analyst from TD Cowen, maintained the Buy rating on Generac Holdings (GNRC – Research Report). The associated price target is $173.00.
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Jeff Osborne’s rating is based on several compelling factors surrounding Generac Holdings. The company’s residential segment shows promising strength, driven by strong hurricane-induced demand and an increase in in-home consultations. These factors are expected to continue supporting the residential business, particularly as the demand from recent adverse weather events persists into the upcoming quarters.
Despite challenges in the commercial and industrial segments, particularly in Europe and the rental and telecom markets, there is an anticipation of a balanced risk/reward scenario as the company heads into the fourth quarter of 2024. Osborne also notes the potential for long-term growth through Generac’s upcoming energy storage and solar re-launch, which could serve as a catalyst for the company’s future performance. This combination of strong residential demand and potential future catalysts underlies Osborne’s positive outlook, resulting in a Buy rating for the stock.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GNRC in relation to earlier this year.