Wells Fargo downgraded Harley-Davidson on Monday to a neutral rating, citing a persistently weak market for large motorcycles, uncertainty over tariffs and a"long path to stabilization."
div > div.group > p:first-child"> Though the iconic American bike maker has embarked on an ambitious plan to revamp its product line and attract new riders, a number of voices on Wall Street still think Harley-Davidson has a lot of work ahead of it in a fundamentally changing landscape. Much of Harley-Davidson's customer base is older, and younger buyers are less interested in the big, brash motorcycles the company specializes in. Younger buyers tend to favor smaller motorcycles, and often tend to be interested in motorcycles for practical benefits such as ease of ownership and fuel costs, rather than as lifestyle purchases.
Shares of Harley-Davidson were down nearly 1% Monday afternoon. The stock has risen by 16.85% since the beginning of the year. Tariffs are also a concern, though Harley-Davidson has tried to protect itself from risks emerging from an ongoing international trade war. The company is shifting production bikes meant for the European Union to Thailand, in order to guard against E.U. tariffs on U.S. made motorcycles. But there is a risk of tariffs on any motorcycle imports to Europe, regardless of where they are made, Conder said.
That’s OK harleydavidson. Nobody’s gonna take advice from the criminals at WellsFargo anyways.
downgraded but it goes up - buy everything 💰
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Source: CNBC - 🏆 12. / 72 Read more »
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