Harley-Davidson (HOG) Will Reduce Guidance -Soleil
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Soleil Securities Group issued a research report this morning on Harley-Davidson (NYSE: HOG). The firm has a Buy rating and $54 price target on the stock.
The firm believes that Harley-Davidson will lower its FY08 guidance due to a new labor contract and retail sales that have shown no improvements. Despite Wall Street estimates that are already below guidance, Soleil sees near-term selling pressure affecting shares of Harley-Davidson. Furthermore, Soleil expects "U.S. retail sales to continue to worsen, with little likelihood they will improve soon..."
Harley-Davidson, Inc., through its subsidiaries, produces heavyweight motorcycles, as well as offers motorcycle parts, accessories, and related services in the United States and internationally. [BCS]
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