Canaccord Genuity Ups PT on Generac Holdings (GNRC) After Co. Raises Q3 Outlook
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Price: $205.28 -0.71%
Rating Summary:
27 Buy, 6 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
27 Buy, 6 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterated a buy rating on Generac Holdings (NYSE: GNRC) and raised its price target to $31.00 (from $28.00).
Generac Holdings expects strong financial results for the third quarter of 2012, and as a result raised its outlook for full-year 2012 (Res: $295-300M/ EPS $0.72-0.77 vs. street at $236.9M/$0.46). As a result, full-year sales are now expected to grow in the low-30% range, noted a report by analyst at Canaccord Genuity.
“A meaningful increase in near-term expectations demonstrates the power of the platform (and earning some multiple expansion),” said analyst John Quealy.
“Even with tough comps in ’13, Generac’s very strong FCF ($200M in ’12), new products and geographic expansion keep us bullish,” he said.
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 $25.03 yesterday.
Generac Holdings expects strong financial results for the third quarter of 2012, and as a result raised its outlook for full-year 2012 (Res: $295-300M/ EPS $0.72-0.77 vs. street at $236.9M/$0.46). As a result, full-year sales are now expected to grow in the low-30% range, noted a report by analyst at Canaccord Genuity.
“A meaningful increase in near-term expectations demonstrates the power of the platform (and earning some multiple expansion),” said analyst John Quealy.
“Even with tough comps in ’13, Generac’s very strong FCF ($200M in ’12), new products and geographic expansion keep us bullish,” he said.
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 $25.03 yesterday.
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