Citi raised the firm’s price target on Generac to $128 from $124 and keeps a Neutral rating on the shares. The analyst updated the company’s model ahead of the Q4 print. Residential sales appear to be trending in-line with expectations with some signs of weakness in Q1, the analyst tells investors in a research note. The firm sees risks to C&I being lower than Street expectations in 2024. However, weaker revenues from lower-margin telecom and rental businesses within C&I should positively impact overall gross margins, contends Citi.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GNRC:
- GNRC Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Generac price target raised to $118 from $105 at Roth MKM
- Generac Announces Fourth Quarter and Full-Year 2023 Earnings Release Date and Conference Call
- Generac price target raised to $150 from $135 at Stifel
- SHAREHOLDER ALERT: Potential Recovery for Generac Holdings, Inc. (GNRC) Investors
Questions or Comments about the article? Write to editor@tipranks.com