Harley-Davidson (NYSE:HOG) shares rose 3.8% in pre-market trading after Citi upgraded the motorcycle maker to Buy from Neutral and increased its price target to $33 from $31.
The upgrade follows a period in which Citi had maintained a Neutral rating on Harley-Davidson during much of 2026. The shares were trading around $25.48 following the pre-market move.
The company has also recorded more than $1.3 million in net insider share purchases in recent months.
Harley-Davidson’s second-quarter 2026 results exceeded Wall Street earnings expectations, while management subsequently raised its full-year guidance for motorcycle retail unit sales and operating income.
Harley-Davidson Outperforms Broader US Market in Pre-Market Trading
The increase in Harley-Davidson shares came as major US equity indices moved modestly lower.
The S&P 500 was down 0.15%, while the Dow Jones declined 0.11% and the Nasdaq fell 0.26%.
Harley-Davidson’s next earnings report is expected in late October or early November 2026, when investors will receive a further update on the company’s financial and operating performance.