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Fly News Breaks for October 22, 2018
HOG
Oct 22, 2018 | 08:26 EDT
Wells Fargo analyst Tim Conder lowered his price target for Harley-Davidson to $46 from $49 to reflect a lower multiple given prolonged retail challenges and incremental tariff/rate uncertainty. Nonetheless, the analyst notes that he sees limited downside and reiterates an Outperform rating on the shares based on valuation, free cash flow generation, and total return opportunity. Trends appeared ''less bad'' as the quarter progressed against a much easier September comp despite unfavorable Eastern U.S weather, he adds.
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