BUZZ-Generac rallies with market; BofA reinstates coverage at 'buy'

Reuters2025-03-24

BUZZ-Generac rallies with market; BofA reinstates coverage at 'buy'

** Shares of Generac Holdings GNRC.N up 4% at $136.79, after touching nearly one-month high early Mon, amid broader rally in equities after Trump administration signals softer tariffs stance .N

** BofA Global Research reinstates coverage of the home standby generator maker with 'buy' rating and PT of $182, implying ~38% upside to stock's last close

** GNRC well positioned to benefit from worsening grid reliability and increasingly severe weather disasters, BofA says in note

** BofA cites tailwinds of shifting demographics, as retirees reliant on power for medical devices and refrigerated medications, and migration to outage-prone states like Texas and Florida

** Brokerage says GNRC's smart home-energy tech, led by Ecobee and storage, also a catalyst and supports its above-consensus estimates

** Of 27 analysts covering GNRC, recommendation breakdown is 13 "strong buy" or "buy", 12 "hold, a 2 "sell" or "strong sell", per LSEG

** Median PT of $174 down from $186 three months ago

** Including moves on Mon, GNRC down ~12% YTD and well underperforming the S&P 500 Industrials sector, which is up nearly 2% in 2025

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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