UPDATE: Oppenheimer Upgrades Generac Holdings (GNRC) to Outperform

(updating comment)

Oppenheimer analyst Christopher Glynn upgraded Generac Holdings (NYSE: GNRC) from Perform to Outperform with a price target of $125.00.

The analyst comments "The sustained strength in core standby demand fundamentals, coupled with emergence of the California market and launch into "clean energy" (combined energy storage/monitoring and HEMS (home energy management system) offerings), supports our estimated 11% 2020 residential growth. Considering GNRC's expectation for long-term organic adoption ramp (including clean energy platform approximating core standby in size within 5–10 years), we anticipate investment into the operating cost structure and model slightly down 2020 OM."

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 $102.99 yesterday.

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