HOG - Harley-Davidson cut at Morgan Stanley as firm waits for five-year plan reveal

Morgan Stanley downshifts on Harley-Davidson (HOG) after the recent share price pop on the heels of a strong earnings report.The firm moves to an Equal-weight rating from Overweight on what it calls subdued upside for the motorcycle manufacturer. The price target goes to $38."Harley delivered a strong, consensus-beating Q3 driven by cost performance. We raise our ests and price target materially but modestly lag the current price, which has run up sharply, largely discounting the fundamental turnaround. We downgrade to EW to process the 5-year plan to be unveiled Jan ’21."Yesterday: Harley-Davidson soars after earnings, India dealHOG -1.66% premarket.

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Harley-Davidson cut at Morgan Stanley as firm waits for five-year plan reveal