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Harley Davidson Shares Rise After Morgan Stanley Upgrade -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Harley-Davidson Inc. (NYSE:) shares rose 2.6% on Tuesday after an upgrade Morgan Stanley (NYSE) Morgan Stanley analyst Billy Kovanis

Harley-Davidson was upgraded by the analyst to an equal weight. He also raised the price target by $1 to $40, but it was just $1 to $35 more than $39.

In a note, Kovanis stated to investors that they were “positive from a margin standpoint on Harley Davidson’s recovery and view the risk reward as being more equally skewed at the current share price.”

He said that they are still cautiously optimistic about their ability to sustain long-term revenue growth. 

LiveWire is a spun-off electric motorcycle brand. The analyst said that while the spinoff took away a “key growth leeway,” the company “found a way of crystallizing value for its business, and can still share in the potential upside through its 74% ownership.” 

“We perceive secular risks in the declining sales of motorcycles within the industry.” “We believe there will be new competition in the electric bike market.”

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