Market Overview

UPDATE: Morgan Stanley Initiates Harley-Davidson with Overweight on Housing Cycle Ties

Related HOG
Harley-Davidson Thinks Beyond 2 Wheels, Rolls Out 3-Wheeled Motorcycle In Japan
Investing in These Collectibles a Better Bet Than Wall Street?

In a report published Monday, Morgan Stanley analyst Adam Jonas initiated coverage on Harley-Davidson (NYSE: HOG) with an Overweight rating and $62.00 price target.

In the report, Jonas noted, “Morgan Stanley's bullish view on US housing can translate into a high single-digit volume CAGR for HOG. Competitive, flexible manufacturing footprint. HOG's $0.5bn restructuring since 2009 has seen a 50% cut in the hourly workforce and implementation of ERP and flexible manufacturing where 30% of the workers can be seasonal. HOG has generated significant free cash flow to equity holders for 18 of the past 20 years and we expect $1bn of FCF on average through 2017.”

Harley-Davidson closed on Friday at $54.35.

Posted-In: Morgan StanleyAnalyst Color Initiation Analyst Ratings


Most Popular

Related Articles (HOG)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free