Jefferies analyst David Katz lowered the firm’s price target on Hilton Grand Vacations to $45 from $49 and keeps a Hold rating on the shares. The concerns over the macroeconomic outlook, notably consumer credit and interest rates, “are driving a separation of timeshare business merits from valuations,” the analyst tells investors in a research note. The firm believes that until economic visibility improves, the upside of timeshare stocks “could be tempered.”
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