In February, Barron’s ran a bearish cover story on Harley Davidson (HOG). In it, William Alpert acknowledged the change in sentiment both in Washington D.C. and on Wall Street that has helped send Harley’s shares up more than 30% during the past 12 months, but argued that “demographics and the dollar present challenges that even the president can’t fix.”

Why do I bring this up? Because today, Tigress Financial Partners analyst Ivan Feinseth reiterated his Buy rating on shares of Harley Davidson and argued that the “recent Barron’s article stating that HOG’s customer base is male pale and stale is just plain wrong.” They explain why:

While HOG dominates motorcycle ownership among men 55 and up with that group having significant interest in motorcycle riding and a high level of disposable income, Harley-Davidson is the ultimate motorcycle aspirational brand and is highly regarded across all demographic groups. HOG has the largest market share of women that ride motorcycles. HOG has been successfully targeting all demographic groups including young adults, women, African-Americans and Hispanics. Sales of new Harley-Davidson motorcycles to those demographics accounted for 40% of U.S. retail sales in 2016, up from 34% in 2010. We believe this will continue as HOG’s outreach and new product design will continue to successfully drive greater market penetration amongst all demographic groups. HOG currently offers its broadest priced product lineup that includes bikes starting at $9,000.00 and exceeding $40,000.00

And Tigress wasn’t the only one who was more bullish on Harley today, as Longbow upgraded its shares to Neutral from Underperform. Stay tuned.

This article was taken from Harley-Davidson: Is Barron’s Wrong?