Harley-Davidson’s turnaround is far from certain and the stock could fall 20%, Morgan Stanley says

A mechanic works on a motorcycle at a Harley-Davidson showroom and repair shop in Lindon, Utah, on Monday, April 19, 2021.

George Frey | Bloomberg | Getty Images

Investors have gotten ahead of themselves on Harley-Davidson’s turnaround story, and the stock is due for a major pullback, according to Morgan Stanley.

The investment firm downgraded the motorcycle company to underweight from equal-weight after the stock, long plagued by sluggish and even negative sales growth, has ripped higher in recent months. Shares are up 31% year to date and are trading at their highest level since 2018.

Source link

Related posts

CDC says variant from the UK is now the most common strain circulating in the U.S.

WDC TV Staff

Sridhar Ramaswamy, ex-Google, building ads-free search engine Neeva

WDC TV Staff

China publishes new rules to counter ‘unjustified’ foreign trade and business laws

WDC TV Staff

Leave a Comment