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Motorcycles Harley-Davidson, 'Compelling Turnaround,' on Citi Catalyst Watch

07:35  20 january  2021
07:35  20 january  2021 Source:   thestreet.com

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Harley - Davidson (HOG) - Get Report was added to Citi 's 30-day Catalyst watchlist by an analyst who said the iconic Milwaukee motorcycle company "offers a compelling turnaround opportunity." Shares of the company at last check were rising 3% to .82. Analyst Shawn Collins, who has a buy rating

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Harley-Davidson was added to Citi's 30-day Catalyst watchlist by an analyst who said the iconic Milwaukee motorcycle company "offers a compelling turnaround opportunity."

a motorcycle parked on the side of a fence: Harley-Davidson, 'Compelling Turnaround,' on Citi Catalyst Watch © TheStreet Harley-Davidson, 'Compelling Turnaround,' on Citi Catalyst Watch

Shares of the company at last check were rising 3% to $41.82.

Analyst Shawn Collins, who has a buy rating on the company, raised his price target to $47 a share from $39.

The analyst said in a note to investors that Harley-Davidson would unveil its 2021-2025 strategic plan and fourth-quarter results on a Feb. 2 webcast.

Collins said he expected investors would "receive greater clarity on priority markets that Harley plans to focus on, overall strategic direction, and most importantly financial goals."

Harley-Davidson Spins Off Ebike Business

  Harley-Davidson Spins Off Ebike Business Serial 1 Cycle Company plans to bring electrics to market this spring.The move is part of Harley-Davidson’s restructuring plan known as “The Rewire,” narrowing the motorcycle manufacturer’s focus on its most profitable core markets and retiming product launches “to reflect the new reality” under the COVID-19 pandemic. Harley-Davidson announced that plan in April, and a representative from the company told Cycle Volta at that time that its first ebikes would be delayed until 2021. Serial 1 stated Tuesday that its first ebikes are scheduled to hit the market in spring 2021.

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Harley-Davison said it planned to concentrate on about 50 markets, primarily in North America, Europe and parts of Asia Pacific, that represent a high percentage of the company's expected volume and growth potential.


Video: Pressure, expectations remain despite changes (NBC Sports)

"We think Harley-Davidson offers a compelling turnaround opportunity," Collins said.

"Harley is an iconic American brand but even before covid the company faced headwinds in the U.S. market (65% sales), including five years of declining sales driven by demographic headwinds and increased competition."

On Tuesday, Harley-Davidson unveiled its 2021 Softail lineup, highlighted by a new Street Bob 114, a restyled Fat Boy 114.

Harley-Davidson is releasing an electric bicycle so you can say you ride a Harley

  Harley-Davidson is releasing an electric bicycle so you can say you ride a Harley Harley-Davidson is releasing an electric bicycle so you can say you ride a Harley The Serial 1 is the first electric bicycle in what will be a new product line from the American motorcycle maker. Harley-Davidson introduced its first electric motorcycle, the LiveWire, last year, but hit production issues (with the battery) quickly. The company isn't sharing much about the new bike's capabilities or even its price, but a spokesperson wrote in an email that it's intended for motorcycle enthusiasts, commuters, and first-timers.

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Collins noted that this is a change from the past, when new lineups were introduced in August. The company said it made the change to better align with seasonality.

The analyst said the company would introduce a new motorcycle in the adventure touring category, the Pan America 1250, on Feb. 22.

In October, Harley-Davidson beat Wall Street's third-quarter earnings expectations amid an overhaul of its business model.

"The better-than-expected third-quarter numbers flow through our forward years of 2021E and 2022E, resulting in modest increases in revenue and earnings per share for those years," Collins said.

This article was originally published by TheStreet.

Harley-Davidson Has Missed the Mark in Electric Transportation .
The company can't get over its past success.Despite all of these challenges, Harley-Davidson stock is up 82% over the past year, and investors seem optimistic about a turnaround. But there's good reason to think that won't happen for this leisure stock.

usr: 0
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