Although the United States is facing a real estate downturn that shows few signs of abating, Cowen thinks the time is right to buy shares of Generac. Analyst Jeffrey Osborne launched the generator company’s hedge with an outperform rating and a price target of $229. He said in a note to clients on Friday that the stock looks attractive at current levels, adding that a slowdown in the housing market and lingering macroeconomic uncertainties are already priced in. “Generac is the undisputed industry leader in a market that still has the potential to grow 5.5% in penetration,” Osborne said. “Grid instability continues to cause significant power outages in the United States during periods of extreme weather. We believe the obvious need for additional investment and network strengthening has increased the base demand for Generac’s products. Shares of Generac have fallen more than 50% this year as the market shifted into sell mode and are around 67% off their 52-week highs. The company has also faced extreme backlogs dating back to 2020, which have eased as Generac ramps up manufacturing capacity. Osborne also sees value in Generac’s solar offering in the long term. “However, we are cautious about the immediate success of Generac’s solar strategy given well-established competitors and the long line of installers that have already partnered with SolarEdge and Enphase,” he wrote. Cowen’s $229 price target suggests shares could rally another 31% from Thursday’s close. – CNBC’s Michael Bloom contributed reporting.
Related posts:
- Best Free NitroFlare Premium Link Generator 2021 (100% Working) –
- RPNet is without a doubt the best premium link generator
- The residential portable generator market is booming around the world, know the reasons. Key players – Wacker Neuson, Honeywell, Hyundai Power, Sawafuji
- Atmospheric Water Generator Market – Outlook Predicting Huge Growth in Near Future, Key Players – Hendrx, AT Company.
