Harley-Davidson downgraded to Market Perform from Strong Buy at Raymond James Raymond James downgraded Harley-Davidson to Market Perform following survey results that indicate Q2 domestic sales slowed more than expected. The results suggest Q2 retail sales grew in mid-single digits vs. expectations of 11% growth and that more dealers have too much inventory than those who have too little. The firm lowered 2014 EPS to $3.94 from $4.00 and 2015 EPS to $4.56 from $4.65.
Harley-Davidson advances after Goldman ups rating to Buy Shares of Harley-Davidson are climbing after Goldman Sachs upgraded the stock to Buy from Neutral in a note to investors today. The company's comparative U.S. retail sales growth accelerated last month, the firm reported. WHAT'S NEW: After conducting channel checks, Goldman analyst Patrick Archambault wrote that the motorcycle maker's U.S. sales growth for October came in above the 3.4% increase the company reported for the third quarter. The accelerating comparative sales were driven by easier comparisons and the company's new products, according to Archambault. He expects the company's momentum to continue into next year and is upbeat on the stock's longer term outlook. The analyst set an $81 price target on the shares. PRICE ACTION: In late morning trading, Harley-Davidson gained 1% to $68.50.
Harley-Davidson upgraded to Buy from Neutral at Goldman Goldman Sachs upgraded Harley-Davidson to Buy after its channel checks indicated U.S. retail sales accelerated in October. Goldman expects new products to drive improved revenue growth and upped its price target for shares to $81 from $66. Shares of the motorcycle maker closed yesterday up 54c to $67.65.