What did Morgan Stanley change in the HOG analyst rating on Feb 17, 2026?

On Feb 17, 2026 Morgan Stanley maintained an **Underweight** rating for HOG and lowered the price target to **$12** from **$18**, signaling continued near-term caution on demand and margins.

How does Morgan Stanley's HOG analyst rating compare with consensus?

Morgan Stanley's view is more bearish than consensus. MarketWatch shows an average target of **$23.78** and an average recommendation of **Overweight** across **18** ratings, creating a wide analyst spread.

What should investors do after seeing the HOG analyst rating change?

Investors should review earnings, dealer inventories, and margin trends, and compare Morgan Stanley's assumptions with consensus. Use the **HOG analyst rating** as one input when adjusting position size or risk controls.

Does the HOG analyst rating affect long-term holders?

A single maintained Underweight affects near-term sentiment more than long-term fundamentals. Long-term holders should focus on cash flow, strategy execution, and valuation versus peers alongside the HOG analyst rating.

Analyst Ratings

Morgan Stanley Maintains Underweight on Harley-Davidson, Inc. (HOG) Feb 17, 2026

ByDanny Kontos February 18, 2026February 18, 2026

Morgan Stanley maintained Underweight on Harley-Davidson, Inc. (HOG) on February 17, 2026, and lowered the price target to $12 from $18. The HOG analyst rating keeps sell-side expectations conservative and signals renewed concern about near-term sales and margin recovery. Morgan Stanley’s move is the only public rating change in this update, and it provides a clear reference point for investors weighing risk. We draw on the Morgan Stanley note and consensus data to explain investor implications and near-term outlook.