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.
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Read More on VAC:
- Marriott Vacations price target raised to $102 from $90 at Barclays
- Marriott Vacations sees FY24 adjusted EPS $7.65-$8.35, consensus $7.89
- Marriott Vacations reports Q4 adjusted EPS $1.88, consensus $1.75
- Marriott Vacations Worldwide Corporation (VAC) Q4 Earnings Cheat Sheet
- JMP Says Timeshare Stocks Will Outperform Over the Long Term; Here Are 3 Names to Consider