Analyst Alexander Perry from Bank of America Securities reiterated a Buy rating on Harley-Davidson (HOG – Research Report) and keeping the price target at $35.00.
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Alexander Perry has given his Buy rating due to a combination of factors including Harley-Davidson’s strategic focus on inventory management and anticipated market conditions. Despite the reported earnings per share for the fourth quarter of 2024 being below expectations due to gross margin challenges, Perry acknowledges the company’s efforts to de-stock dealer channels and improve market conditions, which are expected to benefit the company in the latter half of the year.
Furthermore, Perry highlights the attractive valuation of Harley-Davidson compared to its powersports peers, citing potential upside due to lower tariff exposure and a significant refresh of its motorcycle lineup, which includes new models expected to drive retail performance. The anticipated pricing benefits from the new lineup, along with expected shipment rebounds in the second half of the year, contribute to a positive outlook, justifying the Buy rating despite short-term pressures.
In another report released on February 4, D.A. Davidson also maintained a Buy rating on the stock with a $31.00 price target.