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Harley-Davidson Set to Benefit From Trump Presidency

Adam Jonas is bullish on Harley-Davidson, especially with a Trump White House.

The lead auto analyst for Morgan Stanley published a research paper in which he said, 

Morgan Stanley is still bullish on Harley-Davidson (HOG +1.8%) after taking in the company's Q3 results. A crucial part of the HOG thesis of analysts Adam Jonas is the ability of Harley to buy back shares and pay a healthy dividend.

"We continue to view HOG as a slow growth or ex-growth annuity stream that could spin off enough cash to take the shares off the market over time," write Jonas.

He also points out that the rebound in the energy and construction sectors line up nicely with Harley's business model.

And, China accounts for a fraction of 1% of sales for HOG and there is no Mexican production. 

Jonas hiked his price target for the Milwaukee motorcycle dynasty to $61 from $54, with an "overweight" rating (his version of a "buy").

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