Morgan Stanley analyst Stephen Grambling lowered the firm’s price target on Harley-Davidson (HOG) to $12 from $18 and keeps an Underweight rating on the shares. After attending the 2026 Miami boat show last week, the firm noted that original equipment manufacturers pointed to a choppy consumer environment, but expect innovation to propel share gains when demand recovers. The firm added that it adjusted estimates for the powersports space on the back of the event and Q4 earnings.
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