Harley-Davidson price target lowered to $34 from $39 at Citi

Citi lowered the firm’s price target on Harley-Davidson (HOG) to $34 from $39 and keeps a Neutral rating on the shares post the Q3 report. The firm says that while it would like to have confidence that the story is now de-risked headed into 2025, its confidence is limited by inventory levels that seem too high, a long and consistent history of retail sales declines, and “bold “margin targets that could leave 2025 and 2026 expectations “far too high.”