Jefferies Downgrades Generac Holdings (GNRC) to Underperform

(Updated - November 29, 2022 8:29 AM EST)

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."

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 $102.06 yesterday.

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