Wells sees ‘too much risk,’ starts Harley-Davidson with an Underweight

As previously reported, Wells Fargo analyst Anthony Bonadio initiated coverage of Harley-Davidson (HOG) with an Underweight rating and $15 price target The company has “suffered years of underperformance” and the firm sees “no clear relief in sight” as demand remains poor, dealer health seems challenged, and questions remain around the direction of the business, says the analyst, who adds that the firm sees “too much risk.”