Market Overview

UPDATE: Citigroup Reiterates Buy Rating, Raises PT on Harley-Davidson

Related HOG
Top 4 NYSE Stocks In The Recreational Vehicles Industry With The Highest Profit Margin
Markets Little Changed Ahead Of The Federal Reserve's Policy Decision
Get Ready for an Electric Harley (Fox Business)

In a report published Wednesday, Citigroup reiterated its Buy rating on Harley-Davidson (NYSE: HOG), and raised its price target from $53.00 to $58.00.

Citigroup noted, “We rate the shares of Harley-Davidson Buy. Harley-Davidson holds a dominant share of the rapidly growing heavyweight segment of the motorcycle industry, with about 50% share of all new motorcycles sold in the U.S. (33% of worldwide heavyweight motorcycles). Thus, we believe the company is well positioned to capitalize on the industry trends, as it has the strongest brand recognition and the most loyal customer base within the industry. The company's cost cutting efforts should help profitability and retail sales have improved, which should help drive further sales growth and operating leverage.”

Harley-Davidson closed on Tuesday at $46.89.

Posted-In: CitigroupAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (HOG)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters