Harley-Davidson price target lowered to $35 from $40 at BMO Capital

BMO Capital lowered the firm’s price target on Harley-Davidson (HOG) to $35 from $40 and keeps an Outperform rating on the shares. After a lighter-than-expected 4Q24, investors are understandably skeptical of the company given a challenging 2024 second half and a tough retail comp against its Touring redesign last year, though the firm remains at Outperform as the stock is trading at just 6-times its reduced 2026 estimate, the analyst tells investors in a research note. BMO has cut the FY25 EPS view by 90c to $4.25, the firm added.