UBS lowers its rating on Harley-Davidson
After a strong summer the coming months could be sort of a cool off for the motor company.
UBS downgrades Harley-Davidson (NYSE: HOG) to a neutral rating after moving the motorcycle stock to Buy. The company is concerned about the pace of upcoming sales growth and is taking note of the 90-day rally in its share price. "Our thesis prevailed before HOG launched its new 5-year strategy.
We presented a strategic plan for the company in July and considered those plans, which resulted in our EPS estimate being 15-20% ahead of Management has since announced its 5-year Hardwire plan. HOG has not yet given any guidance on earnings per share of what to do with fiscal results in February, but we've seen the EPS perform has approximated our estimates by consensus ".
HOG's shares were down 1.44% early in the trading session to $ 32.40.