Generac stock surges to lead S&P 500 gainers after Janney said investors should buy, as his fair value estimate implies 67% upside.
Shares of Generac Holdings Inc. surged Wednesday, after Janney analyst Sean Milligan said the sharp selloff this year has provided investors an opportunity to buy into an established brand with a dominant share of the home generator maker at a deep discount.
The stock GNRC ran up 5.1% in afternoon trading, enough to pace all of the S&P 500 index’s SPX gainers. He started coverage of Generac with a buy rating and stock fair value estimate of $160, which implies 67% upside from current levels.
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