Holley Analysts Raise Their Forecasts After Better-Than-Expected Q2 Results

Holley Inc. HLLY reported strong earnings for the second quarter and raised its FY23 guidance.

Holley posted adjusted earnings of 14 cents per share, beating market estimates of 6 cents per share. The company’s sales came in at $175.30 million, versus expectations of $172.61 million.

Holley raised its FY23 revenue outlook from $625 million-$675 million to $635 million-$675 million.

Holley shares jumped 19.7% to close at $7.43 on Thursday.

These analysts made changes to their price targets on Holley following earnings announcement.

• Telsey Advisory Group boosted the price target on Holley from $7.5 to $9. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating.
• Raymond James increased the price target on Holley from $6.25 to $8.25. Raymond James analyst Joseph Altobello maintained an Outperform rating.
• Canaccord Genuity raised Holley price target from $6 to $10. Canaccord Genuity analyst Brian McNamara maintained a Buy rating.

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