Harley-Davidson (HOG) PT Lowered to $28 at Citi

Citi analyst James Hardiman lowered the price target on Harley-Davidson (NYSE: HOG) to $28.00 (from $29.00) while maintaining a Neutral rating.

The analyst comments "Harley-Davidson’s guidance, particularly with respect to a flattish retail environment, was difficult to underwrite three months ago, and is an even tougher sell following a rough Q1. Even if our disappointing Q1 expectations prove accurate, it is unclear whether management will see fit to meaningfully cut guidance, given previously communicated confidence in the year despite exceedingly difficult Q1 comparisons and headwinds. While Q1 retail does likely represent the worst of it, there is little reason to believe in the top or the bottom-line hockey stick implied by guidance, and so we are again lowering our estimates and our price target."

You May Also Be Interested In

• Harley-Davidson (HOG) PT Raised to $33 at DA Davidson Amid Progress on Back to Bricks Strategy
• Candel Therapeutics Inc. (CADL) PT Raised to $15 at Freedom Broker
• Lockheed Martin wins $153 million in defense contracts