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Fly News Breaks for October 29, 2019
HOG
Oct 29, 2019 | 07:48 EDT
Morgan Stanley analyst Adam Jonas raised his estimates for Harley-Davidson to reflect the higher conviction in shipment stabilization and his expectation for increased motorcycle operating margins in FY20. The analyst, who said he is "comfortable with Harley's upside potential," suggests that investors "ride the Harley relief rally into 2020" as he expressed confidence in management to develop a strategy to diversify the business and hit their guidance. Jonas reiterates an Overweight rating on Harley and raised his price target on the shares to $43 from $42.
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