HOG - Legacy Harley-Davidson or next-gen LiveWire is the motorcycle question of the day

Harley-Davidson (HOG +7.2%) rallies after announcing a plan to set its electric motorcycle business free in a SPAC deal. The development has analysts buzzing over the implications for HOG and soon-to-be-traded LiveWire (LVW). Morgan Stanley analyst Billy Kovanis notes the LiveWire business will be valued at a $2.3B market cap and $1.8B Enterprise value, which works out to ~1.0X EV/2026 sales on Harley's forecasts. LiveWire is targeting revenue of $1.8B in 2026 and 100,961 units, implying ~$15K per bike. Harley expects LiveWire will be cash flow profitable and cash flow profitable by 2026. The cash from the SPAC deal is anticipated to be enough to fund the growth plans. Kovanis and team think LiveWire will need to deliver into the micro mobility market of lightweight bikes, electric scooters, electric pushbikes and more to hit the 100K target by 2030. Of course, that would lower average selling prices dramatically. What about

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Legacy Harley-Davidson or next-gen LiveWire is the motorcycle question of the day