Goldman Sachs Turns Bullish On Generac; Upgrades Clean Harbors To Neutral

Goldman Sachs analyst Jerry Revich upgraded Clean Harbors Inc CLH and Generac Holdings Inc. GNRC.
The analyst upgraded Clean Harbors to Neutral from Sell and raised its price target to $120 (an upside of 8%), from $95.
Revich mentioned that oil prices are 50% higher since the firm reinstated the company at Sell, providing a higher pricing point for its re-refined products.
The analyst boosted his forecasts for the Safety-Kleen business and now expects 2022 EBITDA growth of 16% in the segment versus guidance and consensus.
The analyst upgraded Generac to Buy from Neutral while maintaining the same price target of $410 (an upside of 27%). He also added GNRC to Goldman Sachs' Americas Buy list.
Revich noted Generac's products are in the early phases of the adoption curve. The company offers a rising distribution "store count" footprint with the broadest product portfolio within its top products.
The analyst mentioned that the risk of a cyclical downturn in the home stand-by business had kept him on the sidelines. He now believes that negative estimate revisions are priced in.
Price Action: CLH shares are trading lower by 0.02% at $110.40 and GNRC higher by 0.02% at $315.49 on Tuesday's last check.

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