The Stock Market Is Backing Harley-Davidson's Turnaround

Apparently, the finance bros are bullish on the Motor Co.

There were a lot of words printed about Harley-Davidson in recent years. A lot of words detailing the iconic American motorcycle brand's downfall over the last three decades. And a lot of words talking about the last few CEOs, including the brand's latest, Artie Starrs, who didn't come from the motorcycling world, but rather the golf and pizza worlds. Some of those words from your's truly, as well as RideApart's other authors, with many of them asking: Is this the right decision for the Motor Co.?

Good thing I'm a writer and not on the board of directors, as Starrs has seemingly reinvigorated the flailing brand.

Dealership confidence in the company is returning to normal. Motorcycles that had been built overseas are returning to being built here in the United States. The lineup is expanding to serve new demographics without alienating its built-in market. LiveWire is attempting a turnaround centered around the hottest two-wheeled market right now, i.e., EV dirt bikes. And its CEO has declined to take the obvious bait from Indian after the latter decided it wanted to get into a pissing match with a company that's five times its size and scale.

Everything has been, apart from the current tariff squabble, coming up Harley-Davidson. And the latest feather in this turnaround's cap is the stock market, as Citi Group is telling everyone, "Buy Harley-Davidson stock now!"

Bearish or Bullish, I Don't Know What Those Mean

Citi Group's James Hardiman updated his analysis on the company only a day or so ago, saying that while the company isn't a sure bet, its detailed path and subsequent turnaround have been more than enough to tell consumers to buy the company's stock.

"While we may never simultaneously have complete clarity and a mispriced stock, we believe that now may be a compelling entry point ahead of 3Q earnings/guidance and an intriguing 2027 story," said Hardiman, adding, "Following positive domestic retail growth in both 1H26 and continued strength through July and August, our latest checks suggest September retail could be up double digits. If accurate, Harley would be on pace to significantly outperform current expectations and exit the year with the strongest retail momentum it has seen in years." And that's all in the face of a market that's seen serious declines due to lackluster consumer confidence.