Goldman Sachs Maintains Neutral on Harley-Davidson

Goldman Sachs is out with its report today on Harley-Davidson HOG, maintaining Neutral. In a note to clients, Goldman Sachs writes, "Harley Davidson reported 2Q2011 EPS of $0.81 vs. our estimate of $0.75 and the Street of $0.72. Excluding special items, earnings came in at $0.84 vs. our estimate of $0.80. The company raised 2011 shipment guidance to 228k-335k from 215k-228k, a large increase given our expectation that ongoing restructuring was limiting its potential for increasing shipments this year amid tight dealer inventories. Overall we expect to see support in the shares (tape permitting), given the earnings beat, the good retail sales pickup, and the sizable increase to shipments." At the time of posting, shares of HOG were trading at $45.16, up 9.06% from Monday's close.