Jefferies analyst David Katz lowered the firm’s price target on Marriott Vacations to $184 from $195 and keeps a Buy rating on the shares. The prospects for the timeshare industry and the stocks could prove positive over the longer-term, but based on historical performance the stocks have historically underperformed in risk-averse markets, the analyst tells investors. The firm also believes that estimates will move down for late 2023-plus for the group as consumers decrease discretionary spending and financing margins weaken from rate hikes.
Published first on TheFly
