William Blair analysts uphold outperform on Harley shares, uphold earnings estimate
After meetings with Harley-Davidson Inc., analysts with William Blair and Co. upheld their "Outperform" rating on the company's shares, saying they expect the motorcycle company's retail sales to increase by late this year. The analysts also stuck to their full-year earnings forecast of $1 per share for 2010 and $2 per share for 2011, up from 30 cents per share in 2009.
THE OPINION: William Blair and Co. said Harley production has been stymied by low prices on used bikes. But used-bike prices are starting to rise, closing the price gap and making new bikes more appealing to buyers. William Blair said sales are improving since the first quarter, when they were down 24 percent, but it will likely be the third quarter before production ramps up. William Blair expects production to fall 5 percent this year but rise 5 percent in 2011.
Source: William Blair analysts uphold outperform on Harley shares, uphold earnings estimate
THE OPINION: William Blair and Co. said Harley production has been stymied by low prices on used bikes. But used-bike prices are starting to rise, closing the price gap and making new bikes more appealing to buyers. William Blair said sales are improving since the first quarter, when they were down 24 percent, but it will likely be the third quarter before production ramps up. William Blair expects production to fall 5 percent this year but rise 5 percent in 2011.
Source: William Blair analysts uphold outperform on Harley shares, uphold earnings estimate
