Holley's Bright Future: JP Morgan Analyst Predicts Topline Upside And Margin Growth For 2023/2024
Portfolio Pulse from Nabaparna Bhattacharya
J.P. Morgan analyst Christian Carlino upgraded the rating on Holley Inc. (NYSE:HLLY) from Neutral to Overweight, with a price target of $7. The analyst predicts topline and margin growth for Holley in 2023/2024 due to conservative guidance, the Sniper 2.0 release, and potential upside from reducing past dues. Despite overhangs weighing on the stock, the analyst sees a path to upward revisions and modest balance sheet deleveraging.
July 12, 2023 | 6:32 pm
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J.P. Morgan analyst upgraded Holley Inc. from Neutral to Overweight, predicting topline and margin growth for 2023/2024. This could lead to upward revisions and modest balance sheet deleveraging.
The upgrade from J.P. Morgan, along with the prediction of topline and margin growth, could lead to increased investor confidence in HLLY. This could potentially drive the stock price up in the short term.
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