Shares of Harley-Davidson Inc. traded higher Monday after RBC Capital Markets raised its price target for the motorcycle maker.
Harley shares rose $1.78, or 6.2 percent, to $30.16 by midday. They earlier hit $30.68, eclipsing a previous 52-week high of $30 set in December.
RBC analyst Edward Aaron increased his share price prediction to $36 from $32.
Aaron wrote in a research note that overall retail sales should improve in March, and that Harley should benefit from improved pricing on its bikes. He also said Harley may break a string of disappointing earnings when it reports first-quarter results on April 20.
© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.