Harley-Davidson, one of the world’s most iconic motorcycle brands, is struggling.
On Wednesday, the investment management firm Alliance Bernstein downgraded its rating of the company from “outperform” to “market perform” in a note to investors, CNBC’s Thomas Franck reported .
Motorcycle sales at Harley-Davidson, which represents about half of the US big-bike market, were down 1.6 percent overall in 2016 versus the year before. U.S. sales fell 3.9 percent.
The company shipped 262,221 motorcycles overall, which fell short of expectations of 264,000-269,000 units.
Alliance Bernstein cited the…