Tuesday, May 28, 2024
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Harley-Davidson attracts a bull rating from Morgan Stanley with a turnaround revving up

Morgan Stanley assumed coverage of Harley-Davidson (NYSE:HOG) again with an Overweight rating. The firm called Harley-Davidson (HOG) an iconic brand with leading market share in the U.S. motorcycle industry and a fiercely loyal customer base, despite a relatively small and aging addressable market.
Analyst Megan Alexander said the HOG turnaround under new leadership is showing signs of positive momentum as the motorcycle maker realizes benefits from its prior restructuring actions and drives innovation in its core product portfolio with a greater emphasis on profitability. Alexander and team believe the refocused strategy from HOG and strong capital allocation discipline will deliver upside to consensus earnings estimates.

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