Holley price target lowered to $3.50 from $5 at DA Davidson

DA Davidson analyst Michael Baker lowered the firm’s price target on Holley to $3.50 from $5 and keeps a Neutral rating on the shares. The company reported a solid Q2 result with sales close enough to in line with consensus and profits well ahead of estimates, but the slowing economy is impacting end user demand for what is a discretionary product category, which led to weaker trends after Memorial Day and early in Q3, the analyst tells investors in a research note.