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Baird analysts downgraded Harley-Davidson shares from Outperform to Neutral after weak dealer checks revealed concerning third-quarter trends. These include a double-digit decline in retail sales, excess inventory, and negative dealer sentiment. Baird also cut its price target on the stock. Dealers noted that high interest rates and economic concerns are deterring customers from financing new purchases, while many used motorcycles are selling below the suggested retail price. Harley-Davidson shares dropped 4% in premarket trading.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:03Baird analysts downgraded Harley-Davidson shares from outperformed to neutral after
00:07weak dealer checks revealed concerning third-quarter trends.
00:11These include a double-digit decline in retail sales, excess inventory, and negative dealer
00:16sentiment.
00:17Baird also cut its price target on the stock.
00:20Dealers noted that high interest rates and economic concerns are deterring customers
00:23from financing new purchases, while many used motorcycles are selling below the suggested
00:28retail price.
00:29Harley-Davidson shares dropped 4% in pre-market trading.
00:32For all things money, visit Benzinga.com.

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