Harley-Davidson: S&P Intraday Gainer

NEW YORK ( TheStreet) -- Storied American motorcycle manufacturer Harley-Davidson ( HOG) was the top performer in the S&P 500 intraday Monday.

The S&P was down 1.68 points, or 0.12%, to 1,369.24 in early trading Monday.

Shares of Harley-Davidson rose to $48, up $1.12, or 2.4%. Citi raised its price target on the stock to $50, up from a previous $46.

"Our dealer checks are showing retail inventory levels remain lean and retail credit availability has remained stable to slightly improved over the last few months," Citi analysts wrote in a Monday report. "March (the beginning of the spring selling season) sales trends continue to be key."

Harley-Davidson reported fourth-quarter earnings in late January of 46 cents a share on revenue of $1.03 billion.

Eight of the 18 analysts who cover the stock gave it a strong buy rating, two rated it a buy and eight rated it hold.

TheStreet Ratings gives Harley-Davidson a B grade with a buy rating and a price target of $55.19. The stock has risen 20.5% year to date.

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-- Written by Joe Deaux in New York.

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