Holley price target lowered to $4.25 from $5.25 at Raymond James

Raymond James lowered the firm’s price target on Holley to $4.25 from $5.25 and keeps an Outperform rating on the shares. Holley reported a mixed Q2 that was generally consistent with expectations and prior guidance, while demonstrating healthy margin improvement, the analyst tells investors in a research note. The Outperform rating reflects Holley’s positioning as the leader in the attractive and historically defensive U.S. performance automotive aftermarket products industry, with potential upside from further cost efficiencies and M&A that may not be fully reflected in the stock, the firm adds.