Why 2022 Is Off To A Good Start For Harley Davidson

Harley-Davidson Inc HOG is likely to have a good year in 2022, with rising fuel prices supporting higher demand for motorcycles, which continues to exceed supply, according to BofA Securities.

The Harley-Davidson Analyst: Robert Ohmes reiterated a Buy rating on Harley-Davidson, with an unchanged price target of $70.

The Harley-Davidson Thesis: A meeting with the owner of one of Nebraska's largest motorcycle dealerships showed that new unit sales had risen by 75% quarter-to-date versus 2021 and by 55% versus 2019, Ohmes said in the note.

The owner mentioned that the dealership was “having its best year…following two fantastic years,” the analyst wrote.

Also Read: BEST MOTORCYCLE INSURANCE IN LOUISIANA

“We believe limited supply of new motorcycles is supporting very elevated prices of used motorcycles, which are being sold at or above new MSRP prices,” he added.

“We rate HOG shares Buy as we see accelerating brand momentum and favorable EPS upside on new model dealer restocking and favorable financial services segment outlook,” Ohmes further stated.

HOG Price Action: Shares of Harley-Davidson had risen by 2.61% to $40.14 at the time of publication Tuesday.

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Posted In: Analyst ColorReiterationAnalyst RatingsBofA SecuritiesRobert Ohmes
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