Truist lowered the firm’s price target on Marriott Vacations to $149 from $187 and keeps a Buy rating on the shares as part of a broader research note on Vacation Ownership names following their Q3 earnings announcements. Another shoe dropped for the company as they surprisingly took a sizable charge in their loan loss provision, the analyst tells investors in a research note, adding that Marriott Vacations is therefore “in the penalty box” with investors at the moment. On Maui, although occupancy in October was well below normal, the good news is that the company is seeing reservations build for the balance of the year, Truist added.
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Read More on VAC:
- Marriott Vacations price target lowered to $103 from $118 at Barclays
- Marriott Vacations sees adjusted EPS $7.44-$7.78, consensus $9.26
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- Is VAC a Buy, Before Earnings?
- Marriott Vacations price target lowered to $187 from $190 at Truist