Harley-Davidson (HOG) PT Raised to $44 at Baird

Baird analyst Craig Kennison raised the price target on Harley-Davidson (NYSE: HOG) to $44.00 (from $40.00) while maintaining a Outperform rating.

The analyst comments "Announced $1 billion share repurchase authorization. Harley-Davidson beat expectations but tempered guidance to reflect macroeconomic realities. In an uncertain macro environment (inflation, rates, employment, politics), we continue to model cautiously, but most our revisions were modest (and well below what Harley-Davidson could achieve in an optimistic scenario). Incrementally, the board approved a new $1 billion share repurchase authorization that, together with dividend, implies an 11% shareholder yield. To the extent the rotation into small-cap stocks is durable – Harley-Davidson shares could outperform."

You May Also Be Interested In

• Darling Ingredients (DAR) PT Lowered to $70 at TD Cowen
• TD Cowen: 'Chewy Inc. (CHWY) Shares Look Attractive at Current Levels'
• Taysha Gene Therapies (TSHA) PT Raised to $14 at BMO Capital on Differentiation