Harley-Davidson Revs Up on Analysts’ Upgrades, Price Hikes

Harley-Davidson  (HOG) – Get Report shifted into high gear Wednesday as a Baird analyst upgraded the iconic motorcycle maker to outperform for the first time since 2016.

Shares of the Milwaukee company were climbing 7.3% to $40.25 at last check.

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“Harley-Davidson is the most valuable motorcycle brand on the planet,” Baird analyst Craig Kennison said in a research note. “After a tough recession, management restructured operations, slashed dealer inventory, rethought product development, invested internationally, and fortified the balance sheet.”

Kennison, who previously had a neutral rating on the stock, also raised his price target to a Wall Street high of $45 from $38. He noted that it was the first time Baird had an outperform rating on Harley-Davidson since 2016.

Kennison cited several factors for his upgrade, including new leadership “with a fresh vision and proven

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Tesla’s China Car Registrations Jump In May; Stock Down In Pre-Market On Analysts’ Rating Cuts

Tesla Inc.’s (TSLA) China car registrations in May jumped 150% month on month, Reuters reported citing data from auto consultancy LMC Automotive.

The U.S. electric vehicle maker’s China registrations, including imported cars, grew to 11,565 in May from 4,633 units in April.

Data from the China Passenger Car Association shows sales of Tesla’s Shanghai-made Model 3 sedan hit 11,095 units in May.

Still, shares in Tesla continued to fall in Monday’s pre-market trading declining another 3.4% to $903.45 after dropping 3.9% on Friday. Meanwhile, year-to-date the stock has more than doubled.

Last week’s start of a downward trend was triggered by two rating downgrades from analysts at Morgan Stanley and Goldman Sachs.

Morgan Stanley’s Adam Jonas lowered his rating on the stock to Sell from Hold with a $650 price target (31% downside potential) amid concerns about U.S.-China trade dynamics as well as recent price cuts of some

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