Jefferies Downgrades Generac Holdings (GNRC) to Underperform
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Jefferies analyst Saree Boroditsky downgraded Generac Holdings (NYSE: GNRC) from Hold to Underperform with a price target of $85.00 (from $95.00).
The analyst comments "We believe EV bidirectional charging is a game changing technology that will disrupt the back-up power space and limit HSB penetration over the longterm. This is on top of negative earnings revisions into 2023/24 as consensus estimates remain too high (we model $5.46/share vs. consensus of $7.56/ share in 2023). As such, we downgrade our rating to Underperform."
Shares of Generac Holdings closed at $102.06 yesterday.
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