Hilton Grand Vacations downgraded to Hold from Buy at Jefferies

Jefferies downgraded Hilton Grand Vacations to Hold from Buy with a price target of $35, down from $55. The downgrade following the Q2 miss and guidance responds to the deceleration in timeshare demand in June, as well as the restructuring of the sales force both of which impact visibility, the analyst tells investors in a research note. The firm expects the shares should remain in “show-me” mode for the near term.