Travel + Leisure price target lowered to $59 from $66 at Truist

Truist lowered the firm’s price target on Travel + Leisure to $59 from $66 but keeps a Buy rating on the shares as part of a broader research note on Vacation Ownership names following their Q3 earnings announcements. Travel + Leisure significantly differed in their view on demand trends as they called out their customer performing consistently well and remaining resilient whereas its peers saw a softening through the quarter and also noted consumers are starting to feel the impact of higher interest rates and inflation, the analyst tells investors in a research note. The firm adds however that while the ccore Vacation Ownership customer continues to not show signs of weakness, Travel + Leisure’s Travel and Membership segment continues to be challenged.