In a report released today, Alexander Perry from Bank of America Securities maintained a Buy rating on Harley-Davidson (HOG – Research Report), with a price target of $35.00.
Alexander Perry has given his Buy rating due to a combination of factors that reflect Harley-Davidson’s strategic initiatives and market positioning. The company has made significant strides in modernizing its core segments, notably refreshing its cruiser and touring product portfolios, which has been met with positive customer feedback. Although the demand environment presents challenges, especially among lower-income customers, Harley-Davidson’s revamped marketing strategy and investment in dealer marketing are expected to drive organic traffic and bolster sales.
Moreover, Harley-Davidson remains optimistic about the long-term growth prospects of the motorcycle industry in the U.S., supported by stable demographic trends and increasing rider numbers. The company’s dealer inventory is considered healthy, with a strategic focus on managing inventory levels across different segments. Additionally, Harley-Davidson’s manufacturing footprint, primarily based in the U.S., positions it well to navigate potential tariff impacts, further supporting the Buy rating with a price objective of $35.00.