February 21, 2023

Generac Stock Is Dropping After Pair of Wall Street Downgrades

Shares of backup-power provider

Generac

are sliding after a couple of Wall Street analysts downgraded the company, mainly because Wall Street hates “back-half” loaded guidance.

Tuesday morning, Janney Montgomery Scott analyst Sean Milligan downgraded

Generac

stock (ticker: GNRC) to Neutral from Buy. His price target dropped to $137, down from $158. Coming into Tuesday trading, shares of Generac were up almost 40% since he launched coverage on the stock in late December.

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