- Keybanc analyst Jeffrey D. Hammond lowered the price target on Generac Holdings Inc. (NYSE:GNRC) to $325 (an upside of 30%) from $350 while maintaining the Overweight rating on the shares.
- The analyst says that the dealers communicated a mixed picture as the outlook became unclear. Through conversations with proprietary channel networks, HSB dealers continue to work through long backlogs as supply chains maintain sequential improvement.
- Hammond mentions while lengthy order files and pricing actions will support earnings through 2022, he lowered the 2023 estimates as he awaits clarity on outage events and backlog levels exiting the year.
- The analyst views the recent Spruce Point report as misguided. He sees the report as highly opportunistic, adding to consumer confidence concerns despite focusing on concerns within GNRC rather than end-market trends.
- Recently, JPMorgan analyst Mark Strouse raised GNRC’s price target to $461 (an upside of 85.7%) from $455 while maintaining the Overweight rating on the shares.
- Piper Sandler analyst Kashy Harrison lowered GNRC’s price target to $305 (an upside of 22.9%) from $350 while maintaining the Overweight rating on the shares.
- Price Action: GNRC shares are trading lower by 0.19% at $248.73 on the last check Thursday.
Trust Stamp Launches AI-Powered Software On The NayaOne Marketplace
Trust Stamp announced that it has launched its proprietary Identity HubTM on the NayaOne Marketplace offering AI-powered software solutions that offer:Advanced Biometric Authentication with liveness and presentation
