William Blair analyst Sharon Zackfia expects Harley-Davidson will meet her Q1 earnings per share estimate of 95c, below the consensus estimate of $1.00, when reporting on April 24. She believes the company's domestic retail sales trends in the "seasonally small" Q1 "remained soft, particularly given frigid weather in March across much of the country." The analyst projects an approximate 7% retail sales decline domestically and a low-single-digit decline overseas, yielding a worldwide retail sales decline of roughly 5%. The analyst sees limited downside with the shares off 17% year-to-date, but maintains a Market

Morgan Stanley assumed coverage of Harley-Davidson with an Overweight rating and $50 price target. Harley-Davidson is an iconic brand with leading market share in the U.S. motorcycle industry and "a fiercely loyal customer base," says the analyst, who believes a refocused strategy under new leadership, along with strong capital allocation discipline, will lead to upside to consensus earnings estimates.