Harley-Davidson (HOG)'s EPS Beat Despite Sluggish Demand Makes It A Show Me Stoy - KeyBanc

KeyBanc analyst, Brett Andress, reiterated his Sector Weight rating on shares of Harley-Davidson (NYSE: HOG) after the 1Q18 headline EPS beat driven by a mix benefit that contributed ~$0.09 and the third straight quarter of HDFS reversals (~$0.05). That said, although U.S. demand remains weak with a decline of -12.0%, the company de-risked bearish expectations for a 2Q18 guidance cut by committing to destock retail inventories, instead shifting the setup into 3Q18/4Q18.

The analyst stated "We would look for a meaningful MY19 lineup announcement before starting to get more constructive, and thus reiterate our SW (Sector Weight) rating, and we continue to see fair value in the low $40s".

For an analyst ratings summary and ratings history on Harley-Davidson click here. For more ratings news on Harley-Davidson click here.

Shares of Harley-Davidson closed at $42.01 yesterday.

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