In a report released yesterday, Brian McNamara from Canaccord Genuity maintained a Buy rating on Holley (HLLY – Research Report), with a price target of $9.00.
Brian McNamara has given his Buy rating due to a combination of factors surrounding Holley’s recent strategic product launches and the company’s engagement with market trends. McNamara recognizes Holley’s savvy timing of releasing new products like the Ultra 6AL series ignition boxes, Hooker Blackheart Exhaust Manifolds, and RacePak displays during the winter build season, when automotive enthusiasts are actively upgrading their vehicles. These product introductions coincide with a period of high customer engagement and preparation for the upcoming racing season, which Holley capitalizes on through its enthusiast events.
Furthermore, McNamara appreciates Holley’s continuous innovation, particularly in the MSD brand’s ignition boxes, which have been improved to be more compact, feature-rich, and user-friendly with digital innovations such as a mobile app for easy setup. These enhancements not only cater to the performance needs of the racing clientele but also resonate with the younger generation of auto enthusiasts. The analyst believes that these moves, combined with the strong brand presence in the ignition box space and the introduction of features like rev limiters and retard timing that cater to specific racing applications, position Holley favorably in the market.
In another report released on January 8, Telsey Advisory also assigned a Buy rating to the stock with a $9.00 price target.
HLLY’s price has also changed slightly for the past six months – from $4.400 to $4.590, which is a 4.32% increase.
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Holley (HLLY) Company Description:
Empower Ltd is a blank check company.
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