Harley-Davidson price target lowered to $21 from $25 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Harley-Davidson (HOG) to $21 from $25 and keeps an Underweight rating on the shares. The firm cut its EPS estimates for Q4, FY26 and FY27 by 157%, 37% and 18%, respectively, to reflect a weaker retail backdrop, corresponding margin pressure to clear inventory, and some mix shift pressure from lower price points for product next year, the analyst tells investors.