Holley Earns 2 Upgrades, Shares Surge 21%
<p><a href='https://financialmodelingprep.com/financial-summary/HLLY'>Holley (NYSE:HLLY)</a>, a provider of high-performance aftermarket automotive products, saw its shares rise after receiving upgrades from JPMorgan and Bank of America. The stock jumped more than 21% intra-day today.</p>
<p>JPMorgan upgraded the stock from Neutral to Overweight with a $7 price target. BofA upgraded the stock from Neutral to Buy with a $6 price target. </p>
<p>The upgrades were driven by factors such as favorable valuation, revenue expectations for 2023 and 2024, margin improvement, and reduced leverage. BofA also noted positive web traffic data and the potential for cost-cutting benefits.</p>

NYSE:HLLY