Generac price target lowered to $185 from $200 at Piper Sandler

Piper Sandler analyst Kashy Harrison lowered the firm’s price target on Generac (GNRC) to $185 from $200 and keeps an Overweight rating on the shares. While January 25 outage activity was strong due to fires in CA, the equity has been soft given uncertainty surrounding 2025 revenue and margin guidance, the firm notes. The uncertainty is driven by questions surrounding consumer power, numerous moving pieces within C&I, resi-tech, and a supply-chain exposed to China. Assuming the market hasn’t recently structurally repriced the stock, Generac’s current multiple suggests the stock is embedding declining EBITDA in 2025, Piper adds.