Holley price target lowered to $3 from $5 at Raymond James

Raymond James analyst Joseph Altobello lowered the firm’s price target on Holley to $3 from $5 and keeps an Outperform rating on the shares. The analyst sees heightened uncertainty following the company’s "disappointing" preliminary Q4 results. Holley has faced "one challenge after another," from supply chain issues to reseller inventory reductions to demand normalization, the analyst tells investors in a research note. However, the firm believes the stock may be pricing in some of the risks.