Morgan Stanley says Trump presidency may be good for Harley-Davidson
On Tuesday, Jonas published a research note in which he hiked his price target for the all-American motorcycle maker to $61 from $54, with an "overweight" rating (his version of a "buy").
Harley-Davidson shares had closed on Monday at $58 and were trading at almost $60 on Tuesday, up about 2%.
Jonas thinks that Harley is in a good position to benefit from a Trump presidency. Here's what he wrote:
Actually, if you think about, there aren't a whole lot of iconic American manufacturing companies that are better situated to prosper in a Trump America.
This is something that Trump detractors are going to have to get used to: in some cases, if he follows through on some of his promises, there are going to be businesses that will get a boost.