Marriott Vacations price target lowered to $136 from $159 at Truist

Truist lowered the firm’s price target on Marriott Vacations to $136 from $159 and keeps a Buy rating on the shares as part of a broader research note on Vacation Ownership names. The firm is revising its estimates following a quarter that saw macro-related issues and/or idiosyncratic problems for the sector, citing higher loan loss provision percentages amid pressure on the lower financial demographic customers and the elongated post-wildfire recovery in Maui, the analyst tells investors in a research note. For Marriott Vacations, Truist also notes that higher loan loss provisions were the result of owners having received abnormally high maintenance fee increases for 2024, and a larger than normal percentage of owners stopped making their payments as they no longer saw the value in maintaining ownership.