Canaccord aftermarket products ‘leader’ Holley with a Buy

As previously reported, Canaccord analyst Brian McNamara initiated coverage of Holley with a Buy rating and $5 price target. Holley is a leading manufacturer of automotive aftermarket products for car enthusiasts and a "leader in a fragmented yet resilient market with consistent growth," the analyst tells investors. Canaccord expects the company to continue to gain share both organically and via M&A and expects growth to resume in the second half of 2023 with new leadership at the helm. After "a tough 2022," the firm believes the stock should benefit from lowered expectations, the analyst added.