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Fly News Breaks for February 14, 2018
GNRC
Feb 14, 2018 | 07:40 EDT
As reported earlier, SunTrust analyst Charles Brady upgraded Generac to Buy from Hold and raised his price target to $52 from $48. Brady notes the slight Q4 earnings beat and the subsequent 6% decline in the stock price were the result of a weaker FY18 revenue outlook. The analyst also attributes the rating change to a "reset" of 2018 expectations, healthy underlying demand, and benefits from the FY18 backlog that should benefit the Q1 Residential sales growth segment.
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