Marriott Vacations price target raised to $161 from $159 at Truist

Truist analyst C. Patrick Scholes raised the firm’s price target on Marriott Vacations to $161 from $159 and keeps a Buy rating on the shares as part of a broader research note on Vacation Ownership names. The firm’s industry meetings last week suggest that despite an overhanging fear in the greater financial marketplace that the customer is about to struggle, management teams were adamant that their businesses remain healthy and their customers resilient, the analyst tells investors in a research note. In an environment where there has been some consumer pushback to higher travel prices, the relative value of Vacation Ownership, especially from existing, owners due to the pre-paid nature of the product, is helping Vacation Ownership occupancies, Truist added.