Vacasa price target lowered to $10 from $12 at Needham

Needham analyst Bernie McTernan lowered the firm’s price target on Vacasa to $10 from $12 but keeps a Buy rating on the shares after its results. The company’s EBITDA growth is being driven by cost-cutting and the firm is now projecting its revenue to decline in FY24 and FY25, the analyst tells investors in a research note. The firm added that in the first two months of the year, its supply tracker shows supply declines continuing, and it now expects for supply to be down for all of 2024.