Harley-Davidson reported a disappointing third quarter, with revenue dropping 26% year-over-year, driven by a decline in motorcycle sales and a challenging economic environment. The company lowered its full-year revenue and profit outlook, reflecting the ongoing impact of high interest rates and global economic uncertainty. Despite the challenges, Harley-Davidson remains committed to its strategic initiatives and plans to continue investing in its future.
Harley-Davidson, Inc. (HOG) announced its third-quarter 2024 financial results, revealing a decline in sales driven by macroeconomic challenges and a softening global market. Despite facing headwinds, the company remains optimistic about its future, highlighting the success of its new touring models and anticipating an improved economic landscape in 2025.
Harley-Davidson is set to release its third-quarter earnings on Thursday, October 24th. Analysts anticipate a decline in both earnings and revenue compared to the previous year. This article examines analyst ratings and price targets for HOG, providing insights into the current market sentiment surrounding the iconic motorcycle manufacturer.
Morgan Stanley has resumed coverage of Harley-Davidson with an ‘Overweight’ rating, highlighting the iconic brand’s market leadership, loyal customer base, and recent turnaround efforts under new leadership. Analyst Megan Alexander noted positive momentum in the company’s restructuring and product innovation, expressing confidence in Harley-Davidson’s refocused strategy and strong capital allocation discipline. Despite anticipated headwinds in 2024, the analysts believe the company can return to growth in 2025 and view the current valuation as attractive. Morgan Stanley assigned a price target of $50.00 to Harley-Davidson, whose shares rose modestly in premarket trading.
