UPDATE: Canaccord Genuity Starts Generac Holdings (GNRC) at Buy, Sees Runway for Further Expansion

(Updated - September 19, 2012 10:03 AM EDT)

Canaccord Genuity initiates coverage on Generac Holdings (NYSE: GNRC) with a Buy. PT $28.00.

"Twin trends of falling grid reliability and expanding natural gas "at the edge" are driving demand for distributed generation solutions," analyst John Quealy notes. "Generac is the established leader in the North American residential standby generator market (only ~2.5% penetration of target market, with each 100bps equating to incremental opportunity of ~$2B). We see significant runway for further market and product expansion."

For an analyst ratings summary and ratings history on Generac Holdings click here. For more ratings news on Generac Holdings click here.

Shares of Generac Holdings closed at $22.89 yesterday.

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