HOG - Harley Davidson stock dips as UBS flags cautious dealer checks
2023-06-16 11:11:35 ET
Harley Davidson ( NYSE: HOG ) shares slid during Friday’s trading after UBS highlighted “challenges” facing dealers in recent months.
In particular, the bank’s analysts flagged conversations with dealers that described the month of May as “trending down most of the month until the end.” An inauspicious sales trend in the month followed a similarly tough trend in April, according to the report.
The team maintained a Neutral rating and a $49 price target on the stock. The analysts also noted that conversations with dealers remain anecdotal and that the company has suggested demand trends are stabilizing.
Shares of Harley Davidson ( HOG ) slipped 1.71% during Friday’s trading.
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Harley Davidson stock dips as UBS flags cautious dealer checks