Harley-Davidson is experiencing a potential resurgence, as highlighted by Citi's upgrade from neutral to buy. Analyst James Hardiman raised his price target to $33, indicating a 34.4% upside from the stock's recent close.
Despite a challenging period where the stock fell 41% since late 2022, Hardiman notes positive domestic retail growth in the first half of 2026 and anticipates double-digit growth in September retail sales. This optimism comes ahead of the company's Q3 earnings report expected around October 28, where analysts predict a significant earnings drop of over 80% year-over-year.
However, Hardiman believes that the current demand strength could lead to a multi-year growth story for Harley-Davidson, contrasting with the broader Wall Street consensus, where 11 out of 17 analysts maintain a hold or underperform rating. Following the upgrade, Harley-Davidson shares rose 3% in premarket trading, reflecting investor interest in the potential turnaround