Analysts at Jefferies raised their rating for Holley (NYSE:HLLY) from Hold to Buy, although they lowered the price target from $8.00 to $5.00. As a result, shares rose more than 5% intra-day today.

The analysts commented on Holley’s Q3 performance, which was driven by a reduction in past-due orders, particularly in the electronics sector, and improvements in product mix and freight costs, leading to a significant 840 basis points increase in EBITDA margin.

The upgrade to a Buy rating reflects the analysts’ positive outlook for Holley in the fourth quarter, anticipating further growth in sales and EBITDA against comparatively easier metrics from the previous year. The analysts also pointed to Holley’s strategic emphasis on expanding its product range to include non-legacy markets, which is expected to attract a broader customer base in the long term.

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

× ¿Cómo puedo ayudarte?