Investing.com — Morgan Stanley downgraded Harley-Davidson (NYSE:HOG) to “Equal-Weight” on restricted upside regardless of anticipated enhancements in affordability in 2025.
Analysts famous that absolute affordability stays excessive, whereas muted shopper confidence could constrain demand restoration.
“We battle to have conviction in a bull argument of normalized earnings energy as extended affordability challenges,” mentioned Morgan Stanley (NYSE:MS) analyst including that it may point out a structural shift within the demand curve which may be tough to beat with present price effectivity plans.
The downgrade follows a troublesome 2024 for the powersports sector, with HOG and friends underperforming the broader market by 53% amid unfavourable retail developments and stock de-stocking.
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