Holley price target lowered to $5 from $6 at Canaccord

Canaccord lowered the firm’s price target on Holley (HLLY) to $5 from $6 and keeps a Buy rating on the shares. The firm said they delivered Q1 results that beat expectations on the top-line, with sales roughly 3% above consensus, but missed on profitability, as adjusted EBITDA came in roughly 5% below consensus.