Truist analyst C. Patrick Scholes raised the firm’s price target on Marriott Vacations to $159 from $149 and keeps a Buy rating on the shares as part of a broader research note on Lodging names. The firm’s view has been that it would take several consecutive quarters of “normalcy” for the group and delivering the way they did pre-Covid in order for valuation multiples to begin to ratchet-back up towards historical levels, and this past earnings season, the company “clearly achieved” that goal, the analyst tells investors in a research note. The firm adds that Marriott Vacations bookings for summer 2024 in North America and international is up “a few” percentage points.
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Read More on VAC:
- Marriott Vacations price target raised to $115 from $105 at JMP Securities
- 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
