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Fly News Breaks for July 2, 2015
GNRC
Jul 2, 2015 | 08:15 EDT
BofA/Merrill downgraded Generac to Underperform and lowered its price target to $33 from $43. The firm reduced estimates following its latest dealer survey and said it sees margin pressure continuing into 2H 2015 given high inventories and headwinds from rental customers. Additionally, BofA/Merrill expects Generac's push into global Commercial & Industrial to drive multiple compression.
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