Generac Stock Rockets on $2.4 Billion Amazon Deal

Generac Holdings saw its stock surge by approximately 40% in after-hours trading on Thursday following the announcement of a long-term supply agreement with Amazon. The deal, valued at $2.4 billion, will see Generac deliver backup generators to the tech giant over the next two years.

The agreement represents a significant milestone for Generac, which has identified Amazon as its second hyperscaler customer. The company's revenue growth is forecast to accelerate to 17% in fiscal 2026, a substantial improvement from the modest 0.61% growth seen in the last twelve months.

Cantor Fitzgerald reiterated an Overweight rating and $333 price target on Generac stock following the announcement. This is not the only bullish outlook for the company, as Needham also maintains a Buy rating with a price target of $282.