HOG - Harley-Davidson: Time To Buy The Dip? (Rating Upgrade)

2024-06-24 17:36:18 ET

Summary

• Harley-Davidson, Inc. is likely a deep value opportunity after its sluggish performance in the past three years.
• We think the company's valuation metrics have realigned.
• Our judgment call of Harley-Davidson's key drivers suggests a fundamental inflection point might emerge.
• The firm's operating metrics have improved since our latest coverage.
• Risks such as questionable performance from LiveWire shouldn't be neglected. However, we are net bullish, and, therefore upgrading the stock to a Buy.

This article revises our outlook on Harley-Davidson, Inc. ( HOG ) and its stock. We last covered the asset in June 2021, stating that it outperformed its fundamental capacity. We were correct with our call. However, numerous systematic and idiosyncratic variables have shifted since then, prompting us to revisit our stance on Harley-Davidson....

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