Harley-Davidson (NYSE:HOG) got a boost on new coverage from Wedbush, wish views the company in a positive light.
Wedbush analyst Rommel Dionisio commented, “Given Harley-Davidson’s continued market share gains, a recovering retail environment for premium motorcycles, current dealer inventory restocking in the face of rising demand, and increased profitability and lower credit risk in the financing arm, we believe shares of HOG should trade at relatively in line to the peer group average 2012E P/E ratio of 16.5x.”
The initial price target they started the company off with of $48, has about a 20 percent upside.
Wedbush initiated coverage on Harley-Davidson at an "outperform" rating. It closed Friday at $40.96, up $0.82, or 2.04 percent.
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