New York, November 1 (FinanceEnquiry.com) – Analysts at KeyBanc Capital Markets upgrade their rating on the shares of Generac Holdings Inc (NYSE: GNRC) from HOLD to BUY. The 12-month target price is set to $38.
In a research note published on October 31, the analysts mention that fundamentally on demand outlook, rating of the company has been upgraded. Detailing it, at the same time as accelerating adoption rates for transportable and home standby generators longer term due to the width and magnitude of Hurricane Sandy (together with Hurricane Irene that impacted in the same way great density of populace), rating of the company has been raised from HOLD to BUY on the basis of the anticipation that significant upside earnings revisions near term will be driven by the impact from Hurricane Sandy.
In addition to this, in terms of operational implementation, quality of management and compelling brand presence or awareness, which ought to conjointly let the Company to completely capture the constructive (even though unfortunate) impact from the storm, Generac Holdings is viewed as one of the best-in-class companies, the analysts add further.
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