Generac assumed with a Neutral at Roth MKM

Roth MKM assumed coverage of Generac with a Neutral rating and $116 price target. Generac is a dominant category leader in back-up power that is well positioned for a number of long-term secular drivers, and its management has leveraged consistent cash generation from the core engine-powered portfolio to expand into adjacent markets in recent years, including higher-growth segments of energy tech, the analyst tells investors in a research note. The firm adds however that while it is positive on Generac’s strategy, it also sees the stock’s risk/reward as balanced at current levels.