Harley-Davidson (HOG) PT Lowered to $53 at Wedbush Following 1Q
Wedbush lowered its price target on Harley-Davidson (NYSE: HOG) to $53.00 (from $55.00) while maintaining a Neutral rating. Full-year 2017 shipments are expected to be flat to down modestly, identical to the previous language given following 4Q. For 2017 estimates were cut down $0.20 to $3.73.
HOG reported 1Q17 EPS of $1.05, $0.03 better than the Street’s $1.02. retail sales fell well short of expectations, both domestically and internationally, while better-than-expected margin fueled the beat.