Travel + Leisure price target raised to $61 from $60 at Truist

Truist raised the firm’s price target on Travel + Leisure (TNL) to $61 from $60 and keeps a Buy rating on the shares. Unlike Q2, Q3 was a relatively straightforward quarter, with gross Vacation Ownership Interest sales in-line to somewhat light vs. consensus expectations that led to modestly ahead earnings, the analyst tells investors in a research note. Travel + Leisure called out that trends in their loan loss portfolio are stable and as the quarter progressed the company did not see anything in those trends that would cause them to change their guidance that the provision will be around 20% for 2024, the firm says.