Hilton Grand Vacations initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Hilton Grand Vacations with an Overweight rating and $59 price target. The company provides an opportunity for investors to gain exposure to the “attractive” timeshare business model at a relatively attractive valuation level, which can gain operating momentum in the second half of 2024 through 2025, the analyst tells investors in a research note. The firm says Hilton Grand Vacations has emerged as a leading contract sales operator in the timeshare industry.