From Financial Modeling Prep: 2024-10-08 12:32:00

UBS analysts maintain a Neutral rating and $40 price target on Harley-Davidson, expressing concerns over possible shipment guidance cuts for the year. Recent dealer feedback suggests a need for further reductions due to worsening trends since July, despite initial improvements from prior disruptions.

Speculation about early shipment of 2025 models to boost sales has been dispelled by Harley-Davidson, confirming adherence to traditional launch schedules. Following a 2.5-point guidance cut in Q2, analysts anticipate another reduction. Reports of no new bike deliveries and limited inventory suggest a potential halt in shipments earlier than usual.

Harley-Davidson aims to maintain flat dealer inventory by Q4, but analysts question the feasibility of this target. A flat inventory level would be significantly lower than pre-pandemic levels, despite a 25% drop in retail sales since then. Dealers anticipate no additional inventory through the year’s end.



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