Harley-Davidson Snags a Citi Price Target Bump By Investing.com

By Christiana Sciaudone

Investing.com —  Harley-Davidson (NYSE:HOG) rose more than 3% as Citi bumped its price target on the stock on a strong consumer rebound.

Analyst Shawn Collins raised the price target to $55 from $39 and maintained a buy rating, according to StreetInsider. 

Harley-Davidson’s in the midst of a turnaround that appears to be bearing fruit. Shares soared last month after the bike company raised guidance and reported much better results than expected for the first quarter. Earnings per share of $1.68 was almost double what analysts had forecast on sales of $1.42 billion, compared to estimates of $1.26 billion.

“We continue to be encouraged by the new strategy at Harley and by the new management team,” Collins wrote in a note.