Harley-Davidson price target raised to $48 from $43 at Morgan Stanley

Morgan Stanley analyst Adam Jonas raised the firm’s price target on Harley-Davidson to $48 from $43 and keeps an Equal Weight rating on the shares following what the firm calls a "strong" Q4 and a FY23 outlook that "underpins improving confidence in the core turnaround" and LiveWire optionality. While higher forecasts and strong earnings quality drove up the firm’s target, Morgan Stanley calls the current valuation "reasonable."