Harley-Davidson Inc (NYSE:HOG) has lagged the market in the last few years, but the company is undergoing a strategy shift centered on international markets, electrification and shipment growth.

BofA Securities analyst Robert Ohmes recently hosted a Harley-Davidson bull-bear debate after initiating coverage of the stock with a Buy rating and $73 price target.

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“Overall sentiment was mixed with bulls focused on signs that HOG’s new strategy under [its] new CEO is working after HOG reported significant 1Q EPS upside & first Q of U.S. retail sales growth since 4Q16, while bears focused on sustainability of demand trends (given potential benefit from model timing shift) & skepticism that demographics are not still a headwind for Harley,” Ohmes said Friday.

Harley Bull, Bear Takes: Ohmes listed five elements to the current Harley bull thesis:

Benzinga’s Take: One of Harley’s biggest problems in recent years is the company’s poor performance with younger consumers. It remains to be seen whether demand from that generation of buyers will pick up as they get older or Harley will continue to struggle to win them over.