Harley-Davidson Likely Faces Near Term Pressure, UBS Says

MT Newswires Live01-09

Harley-Davidson (HOG) is likely facing near-term pressure as it works through policy changes, UBS said in a Thursday note.

"Any potential turnaround would take time, and new models are coming late this year," the report said.

The note said US retail in the first half of Q4 was trending worse than the -4% decline in Q3, and retail in December continued to decline, with dealers reporting floor traffic down year-over-year.

While we have been estimating flat shipments in 2026 after a -15% decline in 2025, it sounds like the company reduced retail targets for dealers for 2026 in December, the report said.

"We may see more shipment cuts in 2026, meaning downside to our flat estimates - and more downside to Street estimates that shipments will be up +2% YOY in 2026," it added.

UBS kept its neutral rating and a price target of $27.

Price: 20.98, Change: +0.10, Percent Change: +0.45

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