Harley-Davidson price target lowered to $36 from $40 at Citi

Citi lowered the firm’s price target on Harley-Davidson to $36 from $40 and keeps a Neutral rating on the shares post the Q1 report. The analyst says domestic retail was slightly worse than expected, global retail was significantly worse, and the margin performance missed the mark by a surprising degree. In each case, management insists that the performance was very much in line with internal expectations, the analyst tells investors in a research note.