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Home » Bank of America says under-radar baby boomer energy play is up 40%
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Bank of America says under-radar baby boomer energy play is up 40%

userBy userMarch 24, 2025No Comments2 Mins Read
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According to Bank of America, home backup generator maker Generac is poised to benefit from an increase in weather disasters, poor grid reliability and an aging population in the United States. The bank began coverage for Generac on Monday with a $182 stock target. This means a 12-month potential rise of around 40% from the share price of $131.52 on Friday. According to Bank of America, severe weather disasters that cost at least $1 billion in damages average at least $23 a year, doubled since the 2010s. Major states exposed to bad weather, including California, Florida and Texas, remain uninvasive by Generack, according to the bank. Meanwhile, the number of seniors in the US will increase to 82 million by 2030, compared to 58 million in 2022, according to the bank. An increase in the elderly population requires reliable power from medical devices and refrigerated medicines. “While Baby Boomers continue to be the top buyers of home standby generators, demand is expanding to Gen X and older millennials. They consider backup power to be essential for home security, extreme weather resilience and remote work.” “On the other hand, migration to stop-prone conditions like TX and FL emphasizes the need for resilience.” Generac’s generators operate with natural gas or liquid propane, but the company also offers solar and battery storage systems with smart home energy management systems. The residential solar sector is struggling, but the provision of Generac provides a “base of future opportunities,” Gosal said. According to Gosal, Generac’s stock has a “attractive valuation” and its shares have been pulling back about 15% since the start of the year. “We see a compelling entry point here,” the analyst said. GNRC YTD Mountain Generac 2025.


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