Analyst Brandon Rolle of D.A. Davidson maintained a Buy rating on Harley-Davidson (HOG – Research Report), retaining the price target of $31.00.
Brandon Rolle has given his Buy rating due to a combination of factors surrounding Harley-Davidson’s current and future outlook. The announcement of CEO Jochen Zeitz’s planned retirement by 2025 has initiated a search for a successor, which Rolle sees as an opportunity for a positive shift in leadership. This transition could potentially address some of the challenges the company has faced, such as consumer financial strain, rising interest rates, and leadership concerns from dealers and customers.
Rolle believes that the appointment of a new CEO with expertise in revitalizing brands and a strong connection to Harley-Davidson could enhance the company’s long-term prospects. The focus on finding a leader from industries like powersports, automotive, or industrial equipment suggests a strategic move to strengthen dealer relationships and brand identity. While immediate changes are not anticipated, Rolle sees potential in areas like affordability, dealer relationships, and customer-centric strategies, supporting his Buy rating and the $31 price target.
In another report released today, BMO Capital also maintained a Buy rating on the stock with a $32.00 price target.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HOG in relation to earlier this year.