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Investing.com - UBS maintained its Neutral rating on Harley-Davidson (NYSE:HOG) stock but lowered its price target to $27.00 from $28.00 on Tuesday. The motorcycle manufacturer, currently trading at $24.63 with a P/E ratio of 8.82, is trading near its InvestingPro Fair Value.
The price target reduction comes as UBS estimates that Harley-Davidson’s U.S. retail sales at the dealer level may have declined approximately 13-15% in the second quarter of 2025. This aligns with InvestingPro data showing an expected 29% revenue decline for the full fiscal year 2025, with the company set to report Q2 earnings on July 24.
UBS noted that February and March retail sales were down nearly 30% in the U.S. market, suggesting some improvement in the overall quarterly trend despite remaining negative.
While Harley-Davidson might view the lessening declines through Q2 as a positive development, UBS believes the recovery pattern was uneven throughout the quarter.
The firm specifically pointed out that April and June retail performance may have been worse than May, contradicting expectations of consistent sequential improvement throughout the quarter.
In other recent news, Harley-Davidson has been navigating a series of significant developments. The company announced the election of all nine director nominees at its 2025 Annual Meeting of Shareholders, while also continuing its search for a new CEO. The search is progressing under a dedicated committee, following the announced retirement of current CEO Jochen Zeitz. Meanwhile, DA Davidson reaffirmed its Buy rating on Harley-Davidson, setting a $31 price target after the company’s first-quarter earnings exceeded expectations. However, the company withdrew its financial guidance for fiscal year 2025, a move that often signals caution to investors. Citi has maintained a Neutral rating with a $27 price target, citing uncertainties like tariff concerns and a proxy battle from a major shareholder. The company is also dealing with the end of financing for its LiveWire electric motorcycle division. Harley-Davidson has been actively urging shareholders to support its director nominees amid disputes with proxy advisory firms and a contentious proxy fight with H Partners. The company emphasizes its commitment to its ’Hardwire’ strategic plan, aiming to maintain its position as a leading motorcycle brand.
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