HOG - Harley-Davidson backed by Citi for strong pandemic recovery

Citi reiterates a Buy rating on Harley-Davidson (HOG) on expectations that a strong post-pandemic recovery is in store for the motorcycle seller.Citi's breakdown: "Harley has begun 2021 with strong 1Q results where NA retail sales were up +30% and market reaction to the new Pan American 1250 bike is strong. The Pan American is H-Ds 1st off-road bike in modern times. H-D management highlighted an optimistic outlook given the strong consumer rebound from the pandemic."The firm boosts its price target to $55 from $39 vs. the average Wall Street price target of $47.40.Earlier this month, Harley-Davidson introduced its all-electric motorcycle brand.

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Harley-Davidson backed by Citi for strong pandemic recovery