Generac stock leads S&P 500 gainers after Janney says buy, citing 'free option' on clean energy

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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