Shares of Harley-Davidson Inc. fell more than 2% in premarket trade Friday after the stock was downgraded to hold from buy at Stifel on Friday. The stock has risen 7% in July, mostly due to buyout speculation, putting it within reach of Stifel’s $50 12-month price target. But analyst Drew Crum said he sees limited upside potential from here, and expects the company to face “ongoing fundamental challenges,” including, potentially, weaker-than-expected second-quarter motorcycle sales. While The Fly reported on July 1 that private equity company KKR & Co. might be interested in buying Harley, Crum said he questions the economic feasibility of such a deal.
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