Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Banc of America Downgrades Harley-Davidson

Banc of America cut its investment recommendation on Harley-Davidson (HDI) to sell from neutral.

Analyst Gary Cooper cited rising retail inventory, decelerating demand, and lackluster response to 2006 model year bikes, which will likely lead to a decline in wholesale unit shipments in 2006. Cooper thinks Harley-Davidson needs to reduce retail inventory over the next few quarters (i.e. ship less), show lower margins due to reduced leverage of its fixed costs, and show lower Harley-Davidson Financial Services income due to higher short-term interest rates.

Cooper noted that share repurchases will mitigate some of the company's earnings per share downside. The analyst cut his $3.76 2006 earnings per share estimate to $3.33 and his price target to $36.

blog comments powered by Disqus