Canaccord sustains buy rating on HLLY, reiterates stock price target By Investing.com
On Friday, Canaccord Genuity sustained its optimistic stance on Holley (NYSE: HLLY) shares, maintaining a Buy rating and a $7.00 price target for the company. The endorsement comes after Holley reported second-quarter results in August, which aligned with consensus sales figures but fell short of future expectations for the third quarter and the year 2024.
This shortfall was attributed to weaker consumer demand and a challenging macroeconomic landscape, with particularly soft sales in June and July leading to a downward revision of forecasts.
Holley’s recent performance has prompted Canaccord to conduct a survey among 26 Certified Holley EFI dealers and 20 automotive aftermarket part resellers. The aim was to gauge current business…
