JPMorgan initiated coverage of Marriott Vacations with a Neutral rating and $105 price target. Despite the stock being down 26% year-to-date , the number of risk factors for Marriott Vacations and the sector are “reasons to wait for clear skies,” the analyst tells investors in a research note. The firm says the company’s longer-term 2025 targets remain at risk of deteriorating macroeconomic trends and the potential for further business disruption from its recently launched Abound product. “In other words, a lot could get worse before it gets better,” writes JPMorgan.
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