Generac rises as Guggenheim upgrades to "neutral"

** Shares of power equipment maker Generac Holdings GNRC.N gain 2.8% to $134.07

** Guggenheim upgrades GNRC to "neutral" from "sell"

** Says lower valuation and the potential for declining consensus estimates are likely to combine to keep the stock at current levels for the intermediate term

** "We see additional optionality regarding the potential for more favorable policy treatment for home standby generators relative to residential solar and storage, as the budget reconciliation process in Washington DC proceeds," brokerage says

** Adds that deteriorating consumer confidence and tariffs are headwinds

** Twelve of 26 brokerages rate the stock "buy" or higher, 12 "hold" and 2 "sell" or lower; median PT is $173 — data compiled by LSEG

** GNRC stock down nearly 14% YTD, including session moves; it rose around 20% in 2024