Commenting on the production and margin guidance from Harley-Davidson (NYSE:HOG), Deutsche Bank (NYSE:DB) said it appears conservative to them, and boosted their EPS estimates for full year 2011 and 2012 on Harley.
Deutsche said, "We are raising our 2011 and 2012 EPS estimates to $2.00 and $2.45 from $1.90 and $2.30, to reflect modest fine-tuning adjustments to our model, including revisions to average transaction price and tax rate assumptions. Our estimate for 2011 is consistent with HOG’s production and margin guidance, and it appears conservative. We are also raising our price target to $41 from $36."
Deutsche maintains an "Outperform" on Harley-Davidson (HOG), which was trading at $39.43 as of 12:40 PM EST.
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