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Monday, November 15, 2010

UBS analyst maintains neutral rating on the HOG and believes Oct. U.S. retail sales fell 15% year over year

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Nov 15, 2010 (SmarTrend News Watch via COMTEX) -- UBS maintained its neutral rating on Harley-Davidson (NYSE:HOG), with a $31 price target, and said that it believes the company's U.S. retail sales fell about 15% year-over-year in October.


Oct 20, 2010 (SmarTrend News Watch via COMTEX) -- UBS analysts said that Harley-Davidson (NYSE:HOG) sales continue to decline, though margins continue to impress.

Analyst Robin M. Farley said, "FY2010 gross margin guidance of 32-34.5% implies Q4'10 margin of 21-28%. Despite managements explanations we feel that intra-family mix shift, removal of one-time expense from Q4'09 and YOY volume +14-28% is enough to offset resumption of Sportster production. We estimate Q4'10 gross margins of 30%."

The bank maintained its neutral rating on the stock, and raised its price target to $31, up from $28.

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