Harley Forums USA

One month ago, I criticized Citigroup (NYSE: C) for its decision to upgrade Harley-Davidson (NYSE: HOG). Despite predicting that Harley would see its third-quarter sales drop 25%, Citi argued that Harley “turned a corner” in Q3, and that the business was now improving. But was the banker right?

Maybe yes
In a couple of respects, yes, the banker was right on the money. In one move to turn the proverbial corner, Harley promised to cease production of Buell motorcycles and sell off its MV Agusta subsidiary. Freed of these distractions, management will be “focusing on the Harley-Davidson brand” and trying to get it moving in the right direction.

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