Generac Shares Surge After Amazon Deal, Analysts See More Upside
Wall Street analysts called the agreement a "massive win" for the generator maker, tying it to growing demand for backup power amid a data center buildout, CNBC reported.
Shares of Generac Holdings jumped after the company announced a deal with Amazon, according to a report from CNBC published September 17.
Analysts cited in the report described the agreement as a "massive win" for Generac, a maker of backup power generators, and said it signals continued momentum in the buildout of computing capacity needed to support large technology operations.
Following news of the deal, Wall Street analysts said they expect Generac's stock to have further room to rise, according to CNBC.
The report did not disclose specific financial terms of the agreement between Generac and Amazon.
Generac has historically supplied generators for residential, commercial and industrial use, including backup power systems that can serve data centers and other facilities requiring continuous electricity supply.
CNBC's report framed the deal within the broader context of rising demand for power infrastructure tied to expanding computing capacity, a trend that has drawn increased attention from investors and analysts covering companies involved in energy and data infrastructure.
Sources
- Generac shares surge on big Amazon deal. Wall Street thinks the generator stock has more to go — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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