UBS Reiterates Neutral Rating on Harley-Davidson (HOG)

UBS analyst Robin Farley reiterated a Neutral rating and $28.00 price target on Harley-Davidson (NYSE: HOG).

The analyst commented, "We believe HOG’s US retail sales for Q3 may be down double-digits, worse than the mid-single digit industry decline that PII noted for its Indian brand. We note that PII’s definition of industry is 900+cc bikes, while HOG typically uses a different definition of 600+cc. So investors may be expecting a MSD decline and getting a double-digit decline. In July, HOG had said they expected retail to turn positive in 2H, given they are comping declines of -10.3% in Q3 last year and -14.8% in Q4…As a result, we believe HOG has also trimmed its planned shipments for Nov and Dec that would have arrived at dealers for Dec and Jan including new model year ’26 bikes. This could suggest downside to consensus shipments estimates for next year, currently looking for +3.5% growth, while we have been below consensus at flat shipments."

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 $26.65 yesterday.

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