Generac Holdings Inc. (GNRC) saw its stock price surge 5.25% during intraday trading on Thursday. The significant upward move followed a wave of positive analyst actions on the company's shares.
Multiple Wall Street firms raised their price targets on Generac, citing optimism about the company's prospects. BofA Global Research increased its price objective to $260 from $224, while Baird adjusted its target significantly higher to $292 from $199. Other notable upgrades included Wells Fargo raising its target to $234 from $185, JP Morgan to $229 from $200, TD Cowen to $255 from $220, and Stifel to $235 from $210.
The collective analyst action, which included maintained Buy and Outperform ratings, reflects growing confidence in Generac's business outlook. TD Cowen specifically mentioned the data center opportunity as a factor in its upgrade, indicating potential growth drivers for the power generation equipment manufacturer.