UBS Reiterates Neutral Rating on Harley-Davidson (HOG)

UBS analyst Robin Farley reiterated a Neutral rating and $35.00 price target on Harley-Davidson (NYSE: HOG).

The analyst said, "We believe HOG US retail sales in Oct-Nov may have been down at close to a double-digit rate, on top of last year’s Q4 declines, and preliminary December checks were also very negative. Outside of macro issues like interest rates, dealers cite tighter credit requirements by HD Financial Services. Q1 is likely off to a tough start, as we estimate CA is the largest US state for motorcycle retail sales, at perhaps close to 10% of total US sales, and more than that in an off-season period like Jan-Feb, so that is likely to impact Q1 retail."

For an analyst ratings summary and ratings history on Harley-Davidson click here. For more ratings news on Harley-Davidson click here.

Shares of Harley-Davidson closed at $28.73 yesterday.

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