Goldman Sachs Reports Harley-Davidson Retail Momentum Strengthening

Goldman Sachs released a research report today showed revenues for Harley-Davidson's HOG 4Q2011 came in at $1.03 bn ahead of our $970 mn estimate and consensus of $1.01 bn. In the report, Goldman Sachs said, “Directionally this is a difficult quarter to call, even though the company posted a headline beat, gross margins came in a little lighter than our and HOG's own expectations, and 2012 shipment guidance fell short of our expectations. That said, retail sales momentum strengthened and gross margin guidance for 2012 was solid. Our estimates and target price are under review pending the company's 9:00 AM conference call.” Harley-Davidson closed yesterday at $41.87.