UPDATE: DA Davidson Starts Empower Ltd. (Holley) (EMPW) at Buy

June 24, 2021 5:37 PM EDT
Get Alerts EMPW Hot Sheet
Price: $9.80 --0%

Rating Summary:
    3 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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(Updated - June 25, 2021 8:23 AM EDT)

DA Davidson analyst Michael Baker initiates coverage on Empower Ltd. (NYSE: EMPW) with a Buy rating and a price target of $16.00.

The analyst commented, "We are initiating coverage on Holley with a BUY rating and a $16 price target. Holley currently trades as Empower Ltd., a SPAC, but will trade as HLLY on completion of the merger. Holley is a leading designer, manufacturer and seller of iconic branded products within the performance automotive aftermarket space, with a deep and enthusiastic customer base. We see Holley as well positioned to take share in a growing but fragmented market with multiple levers to drive strong top line increases at high margins. EMPW currently trades at 9.1x our 2022 EBITDA forecast, below the peer average of 18x. Our price target is based on a discounted 14.5x."

For an analyst ratings summary and ratings history on Empower Ltd. click here. For more ratings news on Empower Ltd. click here.

Shares of Empower Ltd. closed at $10.05 yesterday.

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