Harley Davidson’s (NYSE:HOG) Wholesale Motorcycle Shipments declined from around 214,000 in 2019 to 145,000 in 2020, although they recovered to 188,000 in 2021. Trefis expects the metric to rise to almost 210,000 in 2023.
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While Harley’s sales in the near term could be weighed down by supply chain issues, we expect growth to be driven by new launches and strong demand for touring and cruiser motorcycles.
We value HOG stock at $52 per share, about 55% ahead of the current market price.