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Harley Davidson is Yahoo Finance Plus’ investment idea of the day

Yahoo Finance’s Jared Blikre reports details on Yahoo Finance’s Investment idea of the day.

Video Transcript

ALEXIS CHRISTOFOROUS: All right, want to get to our Yahoo Finance Plus Investment Idea of the Day. It is Harley Davidson. Now they reported second quarter earnings recently. Why are they our YF Plus Investment Idea of the Day?

JARED BLIKRE: Well, I'll tell you what. [INAUDIBLE] has been reinventing itself. And let's go to the YFi Interactive one more time here. I have the commentary. This is a stock-- I mean, they're venturing into the e-world. You knew that had to happen one day. And they're looking incrementally bullish here.

So let's check out what Argus is saying. They have a long-term price target of $48. Current price is $40. And they said the results were strong. And they cited some of the numbers there that they had a loss a year ago, but they're well above both the consensus forecast and their estimate. Revenue rose 77% per year to $1 and 1/2 billion thereabouts.

Company is starting to see positive results from its new Hardwire strategic plan. And during the second quarter, Harley launched LiveWire as a standalone brand and introduce LiveWire 1, an electric motorcycle built for the urban experience. I can't imagine it would be too loud, so maybe the neighbors like it. And we're raising our 2021 adjusted EPS forecast to $3.87 and their full year 2022 estimate to $4.21.

Just taking a longer term look at the stock, this is six-month chart. You can see some of the troubles that they've had over the last 10 years. But they are coming back quite nicely here. Guys.