(News Bulletin 247) – Jefferies announced on Wednesday that it had raised its recommendation on Harley-Davidson, raised from ‘underperformance’ to ‘keep’ with a price target maintained at 39 dollars.
Following the stock’s recent decline, which is back in the direction of its target, the research firm says it sees a ‘more balanced’ risk/reward profile in the stock, leading it to raise its advice.
‘Having said that, our view on the fundamentals of the group remains the same: we remain cautious regarding the stabilization of demand at retailers against the backdrop of an unstable economic environment and the risks associated with Harley-Davidson Financial Services (credit losses , rising interest rates)’, tempers the analyst.
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