Harley-Davidson price target lowered to $45 from $50 at BMO Capital

BMO Capital lowered the firm’s price target on Harley-Davidson to $45 from $50 and keeps an Outperform rating on the shares. The company’s Q1 results topped estimates, but its U.S. retail sales were a bit below expectations, the analyst tells investors in a research note. Harley-Davidson’s commentary around April retail trends and Q2 retail expectations was also surprisingly cautious, resulting in higher investor concern given positive retail channel checks during the quarter, BMO added.