NEW YORK (TheStreet) -- Shares of Harley-Davidson Inc (HOG) are higher by 1.85% to $68.90 in Friday's pre-market trading session, after the motorcycle company was upgraded to "buy" from "neutral" by analysts at Goldman Sachs this morning.
Analysts at the firm also boosted its price target to $81 from $66 per share, after its channel checks indicated U.S. retail sales accelerated in the month of October.
Goldman analysts added that they expect Harley-Davidson's new products to drive improved revenue growth.
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Milwaukee, WI-based Harley-Davidson is the parent company for the groups of companies doing business as Harley-Davidson Motor Company and Harley-Davidson Financial Services.
Separately, TheStreet Ratings team rates HARLEY-DAVIDSON INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate HARLEY-DAVIDSON INC (HOG) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: