Marriott Vacations price target raised to $142 from $139 at Truist

Truist raised the firm’s price target on Marriott Vacations (VAC) to $142 from $139 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 “massively” ahead earnings, and there were no material negative surprises, the analyst tells investors in a research note. The company also called out that many of the major headwinds that impacted their performance over the past 18 months are behind them, Truist says. Marriott’s delinquencies in the loan portfolio appear to have stabilized, the firm adds.