Generac (NYSE) Hits New 12-Month Peak After Analyst Update

October 17, 2024 04:12 PM PDT | By Team Kalkine Media

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Generac (NYSE) Hits New 12-Month Peak After Analyst Update — Image source: Shutterstocks

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Headlines

Generac reached a new 12-month peak after recent adjustments by financial analysts.

Various firms raised their target prices on Generac, reflecting positive outlooks.

The company continues to perform well in trading, with strong volume noted.

Generac Holdings Inc. (NYSE:GNRC) achieved a significant milestone on Thursday by hitting a new 12-month high during trading. This came shortly after JPMorgan Chase & Co. increased their target price for Generac, raising it from a previous estimate of $160 to a revised $178. Despite maintaining a neutral stance on the stock, this adjustment reflects a more favorable outlook for the company.

Generac traded at a peak of $176.14 before settling at $171.91 in the latest session, marking a strong performance. Other financial firms also updated their outlook for Generac. Canaccord Genuity Group revised their price objective for the company, increasing it from $177 to $200. Stifel Nicolaus followed suit, adjusting their price target upward from $145 to $175.

In addition, Scotiabank also raised its target price for Generac to $160 in an updated report. Despite varying ratings from analysts, Generac’s overall trajectory has been positive, with momentum building following these updates.

Currently, Generac enjoys mixed analyst ratings, with some adopting a cautious approach. According to recent insights, two analysts maintained a negative rating, while ten opted for a neutral rating, and eleven analysts offered a more favorable outlook.

Generac’s performance in trading, with significant volume noted, further solidifies its position as a key player in its sector. The company’s average target price is currently listed at $158.43, indicating a solid performance potential. As more financial experts weigh in on Generac’s future, the company continues to attract attention within the financial community, further boosting its standing in the market.

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