** Barclays starts coverage on power equipment maker Generac Holdings with "equal weight" rating; PT at $189

** Says an aging and increasingly unreliable grid, along with more frequent extreme weather, elevated the need for back-up power in homes and businesses, providing a favorable macro backdrop for GNRC

** "While we like the business, the macro, and the company, we would wait for a pullback in the stock to get involved," says brokerage

** GNRC shares down 2.72% at $181.78

** Thirteen of 26 brokerages rate the stock "buy" or higher, 10 "hold" and 3 "sell" or lower; their median PT is $182 - LSEG data

** Up to last close, stock up 44.58% YTD

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))