Holley's Strong Financial Performance and Strategic Focus Drive Buy RatingWe expect momentum to continue into 2026 where we expect sales growth of 5.5%, adjusted EBITDA margin improvement of nearly 75 basis points, and EPS growth of 60%, as the turnaround continues to ramp up and debt levels decline. The company’s current debt leverage was roughly at 3.9 times at the end of the third quarter, and we expect Holley can reach sub-3 times by the end of 2026, which should go a long way to improve the marketability of shares.The stock is up roughly 41% on the encouraging print, putting valuation at 7.0 times our 2026 adjusted EBITDA estimate. As management continues to execute against its strategic plans to enhance the margin and cash profile of the business, we believe there is room for both earnings upside and multiple expansion.