BofA lowered the firm’s price target on Harley-Davidson (HOG) to $40 from $45 and keeps a Buy rating on the shares. The firm expects retail and shipments to decline in Q4 and expects Q4 gross margin pressure on volume deleverage, the analyst tells investors following the Q3 report. The firm reiterates a Buy rating given what it sees as a more favorable 2025 set up, but lowered the multiple it applies to its calendar 2025 EPS estimate of $4.15 to arrive at its revised price target
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Read More on HOG:
- Harley-Davidson price target lowered to $34 from $39 at Citi
- Morning Movers: UPS ascends and Textron descends after quarterly reports
- Harley-Davidson reports Q3 EPS 91c, consensus 79c
- Harley-Davidson lowers 2024 HDMC revenue view to down 14%-16% from 5%-9% y-o-y
- Notable companies reporting before tomorrow’s open
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