Holley On The Verge Of A Business Turnaround, Analyst Upgrades To Outperform
Portfolio Pulse from Shivani Kumaresan
Telsey Advisory Group analyst Joseph Feldman has upgraded Holley Inc (NYSE:HLLY) from Market Perform to Outperform and raised the price target from $3 to $7.5. The analyst believes the company is at an inflection point, with significant cost reductions and operational efficiency improvements. Despite a microchip shortage, the company is redesigning products to rely less on older chips. The analyst expects Q2 sales to decline 4.0% to $172.2 million and FY23 sales to decline 3.3% to $665.7 million.
August 07, 2023 | 6:05 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Holley Inc's stock has been upgraded to Outperform by Telsey Advisory Group analyst Joseph Feldman, with a raised price target from $3 to $7.5. The company is expected to see a decline in Q2 and FY23 sales, but is at an inflection point with cost reductions and operational improvements.
The upgrade of Holley Inc's stock to Outperform and the raised price target indicates a positive outlook for the company. Despite expected sales declines, the company's cost reductions and operational improvements are seen as positive factors that could drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100