JMP Securities analyst Aaron Hecht lowered the firm’s price target on Hilton Grand Vacations (HGV) to $50 from $55 and keeps an Outperform rating on the shares. Hilton Grand Vacations’ Q3 adjusted EBITDA was below consensus expectations and while management reiterated its FY24 adjusted EBITDA guidance range at the midpoint, they indicated a believe that results were trending toward the low end, the analyst tells investors in a research note. JMP believes Hilton Grand Vacations should be able to drive better sales conversions as the sales force stabilizes under its new form, with results improving and accelerating through 2025 and 2026, which should drive EBITDA and multiple expansion.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HGV:
- Salesforce upgraded, ServiceNow downgraded: Wall Street’s top analyst calls
- Hilton Grand Vacations downgraded to Equal Weight from Overweight at Barclays
- Hilton Grand Vacations price target raised to $37 from $33 at Goldman Sachs
- Hilton Grand Vacations 4M share Block Trade priced at $42.25
- Hilton Grand Vacations price target lowered to $51 from $52 at Truist