Analysts at Bernstein are not convinced that millennials have an appetite to buy Harley-Davidson Inc.'s (HOG) classic motorcycles, so the firm lowered the company's rating to "market-perform" from "outperform."
Bernstein also cut the Harley's price target to $55 from $62, representing a potential upside of 6% from the stock's previous closing price.
The firm's checks suggest that the younger population of Americans are purchasing motorcycles at a far lower rate than the previous generation.
Harley shares are down 11% year to date but are up nearly 7% over the past 12 months.
The motorcycle manufacturer's stock fell 2.8% to $51.02 per share on Wednesday morning.
Money is just being given away: Warren Buffett donated roughly $3.17 billion of Berkshire Hathaway Inc. (BRK.A) (BRK.B) stock earlier this week to the Bill and Melinda Gates Foundation and four family charities.
It is the 86-year-old billionaire's largest contribution in his plan to give away his fortune. In 2010, Buffett, Microsoft Corp. (MSFT) co-founder Bill Gates and his wife created The Giving Pledge, a project that encourages billionaires to give more than half of their wealth to philanthropy. TheStreet takes a look at some of the wealthiest people who have pledged to give their money to charity when all is said and done.
A return of a bothersome issue for Walmart: Beginning in 2013, reports began circulating that Walmart Stores Inc. (WMT) was dealing with an out-of-stock issue at its stores nationwide.
At the time, Walmart attributed the problem to a reduction in employees as it worked to cut costs. Fast forward to 2017, and the issue appears to be resurfacing, reports TheStreet's Lindsay Rittenhouse.
The purchase of Square would give PayPal increased acceptance with bricks and mortar retailers, Loop Capital analyst Joseph Vafi writes in a new note. All in, the deal would further PayPal's efforts to become a "true, two sided network," according to Vafi.
Vafi estimates PayPal would be able to pay a 30% premium for Square, valuing the company at more than $12 billion using current prices.
Tesla gets some more love: Shark Tank Star Kevin O'Leary said Tesla (TSLA) CEO Elon Musk is a modern day Michelangelo. "He is a genius - I can't say enough good things about what he does for all sectors that he gets involved in," O'Leary told TheStreet's Scott Gamm in an interview.
Although to be fair, O'Leary is more fond of Tesla's product than its stock.
"I'm an investor and at the end of the day, I look at each opportunity to put money in harms way - one stock at a time and that's not a stock I own," he said. O'Leary is also the Chairman of O'Shares ETF Investments.
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