Mizuho analyst Ben Chaiken lowered the firm’s price target on Marriott Vacations to $126 from $128 and keeps a Buy rating on the shares. Based on he Q1 results and preliminary color on Q2, Marriott Vacations’ second half of 2024 requires greater acceleration than previously anticipated, the analyst tells investors in a research note. As a result, the firm lowered estimates for contract sales and EBITDA. It is are taking a somewhat more cautious approach versus the ramp of Maui embedded in guidance, as well as the implied accelerating underlying growth rate required to meet the midpoint of the contract sales guidance.
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