Harley-Davidson price target lowered to $31 from $39 at DA Davidson

DA Davidson lowered the firm’s price target on Harley-Davidson (HOG) to $31 from $39 and keeps a Buy rating on the shares. The firm’s latest checks revealed “challenged” U.S. retail trends and elevated non-current inventories, the analyst tells investors in a research note. Further U.S. inventory destocking is likely needed throughout most of the first half of the year, and the firm is forecasting a FY25 guide that is well below-consensus with a $3.25 FY25 EPS estimate, down from its prior $4.25 outlook, DA Davidson added.