Generac stock price forecast: UBS sees a 70% upside from here

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Generac stock price forecast: UBS sees a 70% upside from here

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By:

Wajeeh Khan

on
Jun 2, 2022

UBS announces a “buy” rating on Generac Holdings with a PT of $450.

Analyst Jon Windham says a lot of the bad news is already priced in.

Shares of the alternative energy company are down over 20% this year.

Shares of Generac Holdings Inc (NYSE: GNRC) are up more than 10% on Thursday after UBS said the Wisconsin-headquartered company was its top pick in alternative energy.

Generac stock could climb to $450 a share

Analyst Jon Windham is bullish on the company’s clean energy business. This morning, he announced a “buy” rating on the stock with a price target of $450 a share that represents another 70% upside from here.


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Generac Holdings’ diverse product suite, dominant market position in home standby power, and existing national installer network are hard to replicate assets.

Windham’s constructive view on Generac Holdings is largely based on the strength of its commercial and industrial segment. He forecasts the company’s 2023-24 revenue and adjusted EPS to grow by 7.0% and 10%, respectively.

Much of the bad news is already priced in

According to the UBS analyst, the post-COVID slowdown in demand for Generac’s home standby power is already priced into the stock that’s down more than 20% for the year. His note reads:

We see the current valuation as providing an attractive 4:1 upside/downside opportunity with the current share price offering an attractive entry point into a likely long-term smart home energy winner.

In April, Generac Holdings reported its financial results for the first quarter that easily topped Wall Street expectations. The NYSE-listed firm also raised its guidance for full-year sales. Wall Street also has a consensus rating of “buy” on GNRC.

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