Marriott Vacations price target lowered to $103 from $118 at Barclays

Barclays lowered the firm’s price target on Marriott Vacations to $103 from $118 and keeps an Overweight rating on the shares. The analyst says the company’s earnings call added context but not much reassurance around financing and timeshare trends. The firm’s 2024 adjusted EBITDA estimate moves down 10% to $799M, mostly on higher financing costs and lower rental profitability.