Generac Stock Surges After Amazon Deal Hikes Price Target
Generac Holdings Inc (GNRC) stock surged in premarket trading after its new long-term supply agreement with Amazon (AMZN) for backup generators at data centers. The deal, worth $2.4 billion over two years, has raised hopes that the company could unlock up to $8 billion in total potential order volume.
Canaccord, a financial services firm, lifted its price target on Generac stock to $375 from $275 and maintained a Buy rating, calling the multi-year agreement 'landmark'. The firm expects around $2.4 billion of deliveries across 2027 and 2028 under the supply agreement.
Cantor Fitzgerald also remained constructive, keeping an 'Overweight' rating and $333 price target on Generac stock. According to Cantor, the Amazon agreement is Generac's most important data-center disclosure since its first hyperscaler win and directly addresses the 2028 backlog-replenishment debate that had become central to the stock's investment story.