Argus Upgrades Harley-Davidson To Buy On New Strategic Plan

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Argus analyst David Coleman upgraded Harley-Davidson (HOG) to Buy from Hold with a $30 price target. The stock closed Monday down 8c to $20.31.

The analyst has a positive view of the company's new strategic plan. Dubbed "The Rewire," the plan should result in a solid recovery for Harley as the economy restarts, Coleman tells investors in a research note. Further, Harley is also working to mitigate the impact of the COVID-19 pandemic through salary cuts, hiring freezes, and adjustments in its new product launch schedule, adds the analyst.

Coleman views the 40% pullback in the shares over the last quarter as creating a favorable entry point.


 

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