Marriott Vacations price target raised to $115 from $105 at JMP Securities

JMP Securities raised the firm’s price target on Marriott Vacations to $115 from $105 and keeps an Outperform rating on the shares. Marriott Vacations’ outperformance in Q4 was driven by higher vacation ownership interest sales and a better margin, and initial 2024 guidance implies strong VOI sales growth of 7.5%, further diluting the Street’s uncertainty around the health of timeshare consumers, the analyst tells investors in a research note.