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Upgrade Alert for Harley-Davidson (HOG)

By David Diaz

Harley-Davidson (NYSE:HOG) was upgraded from Market Perform to Outperform at BMO Capital today. The stock closed yesterday at $51.66 on volume of 3.5 million shares, above average daily volume of 3.4 million.

Harley-Davidson, Inc. designs, manufactures, and sells motorcycles. The Company's products include heavyweight touring, custom, and performance motorcycles, as well as a line of motorcycle parts, accessories, and general merchandise. Harley-Davidson also provides motorcycle floor planning and parts and accessories financing to its North American and European dealers.

Over the past year, Harley-Davidson has traded in a range of $36.36 to $60.67 and closed yesterday at $51.66, 42% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.9%.

Harley-Davidson (NYSE:HOG) has potential upside of 5.3% based on a current price of $51.66 and analysts' consensus price target of $54.42. The stock should discover initial support at its 200-day moving average (MA) of $49.14 and subsequent support at its 50-day MA of $47.49.

SmarTrend recommended that subscribers consider buying shares of Harley-Davidson on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.06. Since that recommendation, shares of Harley-Davidson have risen 5.7%. We continue to monitor HOG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Harley-Davidson

Ticker(s): HOG