NEW YORK (Reuters) - Slowing sales could cause shares of Harley-Davidson Inc. (HOG.N) to decline after being on the rise for much of the past 12 months, according to a Barron’s cover story dated Feb. 27.
The article notes that the famed motorcycle maker’s customer base of middle-aged Americans is shrinking and a strong U.S. dollar hurts the profitability of international sales.
Barron’s believes the stock should trade in the low $40s, down from around $56 on Friday.
“With so many secular challenges, it’s hard to understand why Harley shares are still cruising along near the high end of their valuation range,” the story states.
Reporting by Lawrence Delevingne; Editing by Alan Crosby