Harley-Davidson price target lowered to $55 from $57 at BMO Capital

BMO Capital analyst Tristan Thomas-Marti lowered the firm’s price target on Harley-Davidson to $55 from $57 but keeps an Outperform rating on the shares. The company’s Q2 results highlighted its new strategy of focusing on its most profitable and desirable models with stronger-than-expected margin and retail performance, and while guidance was lowered due to the supplier-related production shutdown in the quarter, investors were likely not surprised, the analyst tells investors in a research note. BMO adds that with new premium motorcycles continuing to see strong demand and ongoing better-than-expected margin performance, the firm remains positive on Harley-Davidson.