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Fly News Breaks for November 1, 2019
GNRC
Nov 1, 2019 | 06:19 EDT
BofA/Merrill analyst Ross Gilardi downgraded Generac to Neutral from Buy with a $108 price target. The analyst notes that expectations for the company's growth are "very high" due to potential upside from the California fire-related penetration opportunity, but it is no "longer a secret." Gilardi adds that while Generac had a decent Q3, parts of its Commercial and Industrial business will weigh on growth for the next year and reduce the upside as peak forest fire / hurricane season subsides in Q4.
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