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Fly News Breaks for August 29, 2016
HOG
Aug 29, 2016 | 06:36 EDT
As previously reported, Longbow downgraded Harley-Davidson to Underperform from Neutral. with a $40 price target. Analyst David MacGregor's dealer checks indicate wholesale shipments at the low end of the guidance range. Dealers said inventory continued to rise during July/August and financing promotions ended in mid-August leaving no promotions to clear inventory before mid-year 2017 shipments. MacGregor expects an increasingly competitive market environment in addition to to internal initiatives with higher levels of investment and margin headwinds, and does not see a positive catalyst for shares over the next 18 months.
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