- Goldman Sachs analyst Jerry Revich upgraded Clean Harbors Inc (NYSE:CLH) and Generac Holdings Inc. (NYSE: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.
