Goldman Sachs Slashes Target Prices on Timeshare Companies
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Marriott Vacations, Hilton Grand Vacations, and Travel + Leisure saw their target prices cut by Goldman Sachs. Plus other industry news.
It was another nearly normal day as the DJIA was down 156 points, the Nasdaq was down 8, the S&P 500 was down 9 points and the 10-year treasury yield was down .04 to 4.32%. Lodging stocks were mixed. SOND gave back -6% following two days of big gains ahead of a press release.
In the very negative Goldman Sachs piece on the hotel business, they also showed they were even more bearish on timeshare companies. GS slashed their target price on Marriott Vacations to $48 from $78, maintaining their Sell rating on the stock. Their other Sell rated stock, Hilton Grand Vacations, saw GS’ target price cut to $30 from $42 while Travel + Leisure’s target price fell to $44 from $62. GS kept their Neutral rating on the stock.
Sonder Holdings gave one of their press releases where they piled on as much information as possible. The latest update included that the
