Goldman Sachs Upgrades Harley-Davidson (HOG) to Neutral; Could Be Nearing An Inflection Point

Goldman Sachs upgraded Harley-Davidson (NYSE: HOG) from Sell to Neutral and raised its price target from $32 to $44.

Goldman's analyst said were could be "nearing an inflection point on retail sales" with checks point to a mid-single-digit year-over-year increase in 1Q11, which would be the first increase in 17 quarters.

The firm also said checks point to stronger used bike prices, suggesting overhang from high levels of used inventory may be abating.

For more ratings news on Harley-Davidson click here and for the rating history of Harley-Davidson click here.

Shares of Harley-Davidson closed at $40.47 yesterday.

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