Analyst Dany Asad of Bank of America Securities reiterated a Buy rating on Travel + Leisure Co (TNL – Research Report), reducing the price target to $57.00.
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Dany Asad has given his Buy rating due to a combination of factors that highlight the resilience and performance of Travel + Leisure Co. The company’s first-quarter EBITDA exceeded expectations, driven by strong results in the core vacation ownership segment, which outperformed both internal and market forecasts. Despite some concerns about tour flow and increased provisions, the core segment’s performance remains robust, and management has not observed any significant signs of consumer slowdown.
Moreover, Travel + Leisure Co. has maintained its full-year EBITDA guidance, reflecting confidence in its business outlook despite macroeconomic uncertainties. While there was a slight increase in loan delinquencies, improvements in collections were already noted, and the company adjusted its loan loss provisions accordingly. The company’s valuation remains attractive, with a price objective set at $57, indicating potential upside from the current trading price.