Truist lowered the firm’s price target on Marriott Vacations to $190 from $219 and keeps a Buy rating on the shares as part of a broader research note on Vacation Ownership names following Q2 reporting period. The company’s VPG, or volume per guest, fell 14% y/y to $3,968, a result well below the firm’s projection, with declines at the legacy-Vistana sites seen as larger than expected due to the continued transition associated with the launch of Abound by Marriott Vacations, the analyst tells investors in a research note.
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