Generac price target raised to $70 from $60 at RW Baird Baird raised its price target on Generac following impressive Q4 results. The firm cited strong home generator demand, better than expected margins, and strong execution of its business model. Shares are Outperform rated.
Generac downgraded to Underperform from Neutral at BofA/Merrill 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.