Why Is Generac Stock Soaring On Thursday?

Generac Holdings Inc. (NYSE: GNRC) shares surged approximately 33% in premarket trading following the announcement of a supply agreement with Amazon, which includes a warrant for Amazon to purchase up to 1.69 million shares at around $200.93 each, potentially valuing the deal at $8 billion. The agreement also involves initial generator deliveries expected to total $2.4 billion in 2027 and 2028. Analysts have a Buy rating on the stock, with an average price target of $289.71, and recent estimates for the upcoming earnings report suggest an EPS of $2.44 and revenue of $1.33 billion, both reflecting year-over-year growth.