Janney upgrades Generac to Buy, sees opportunity in post-earnings selloff

Janney Montgomery Scott upgraded Generac to Buy from Neutral with a $131 fair value estimate. Shares of Generac are down about 28% since the company reported Q2 results and lowered FY23 guidance on Tuesday afternoon, notes the analyst, who views this two-day selloff as one that creates an opportunity. The Generac recovery story “continues to be an uneven one,” but the post-earnings selloff has improved the upside to what the firm views as its “conservative” fair value estimate.