Wall Street Drops Harley-Davidson Value Target Amid Recent Struggles

By Brett Foote - March 19, 2026

Recent underperformance and soft demand have turned Wall Street a bit skeptical when it comes to Harley-Davidson’s stock performance.

It’s not exactly a secret that Harley-Davidson has faced its fair share of very public struggles for years now, all as the iconic motorcycle maker has searched for ways to keep itself relevant in a quickly-evolving market. H-D has rotated through a few CEOs along the way, implementing different strategies as a way to try and right the proverbial ship – some of which have proven successful, while others, well, not so much. Thus, it’s not too surprising to see Wall Street turn a bit bearish when it comes to Harley-Davidson stock.

According to Yahoo Finance, the fair value estimate for Harley-Davidson shares was recently trimmed from $23.50 to $22, which comes amid weakening demand, underperformance, and a series of price target cuts. However, analysts tend to take different approaches to H-D stock – UBS kept its neutral rating on those shares with a price target of $19, which is more optimistic than most (though lower than its previous target of $27), and Morgan Stanley believes that product innovation will eventually spur demand.

On the flip side, we have Wells Fargo, which set a price target of $15 for Harley-Davidson stock and gave it a rating of underweight, noting that there’s more risk than potential reward at the moment. Additionally, Morgan Stanley maintained its underweight rating while cutting its price target to just $12, in spite of its optimism, pointing to losses across the entire power sports segment.

In terms of finances, Harley-Davidson revised its revenue growth outlook to 5.68 percent, higher than the previous 5.31 percent, reduced its net profit assumption from 7.39 to 3.52 percent, updated its future P/E multiple from 11.41x to 20.77x, and retained its discount rate of 12.33 percent. It also approved a Q1 2026 cash dividend of $0.1875 per share, and initiated a buyback of 6.3 million shares for $200 million late last year.

Regardless, analysts point to a number of changes in Harley’s lineup for the 2026 model year as potential positives – the company added 13 new models, in fact, along with some updated motorcycles and some lifted-edition variants, which may ultimately help it turn things around in Q2.