Standpoint Reiterates Buy Recommendation On Harley Davidson (HOG)

Standpoint Research is reiterating their buy rating and $40 price target on shares of Harley-Davidson (NYSE: HOG). Yesterday, the stock jumped 6.9% on takeover rumors. Standpoint analyst, Ronnie Moas, said that he thinks HOG looks a little stretched in the near term, but that he thinks that this will be a $40-$50 stock within two years. He said that investors may be prudent to sell some shares here, however.

According to Moas, HOG is trading at just 7X peak earnings from 2006 and 2007 and is still more than 60% off its highs. During the current session, Harley-Davidson's stock has fallen 1.23% and is trading at $28.00.