Barclays upgraded Marriott Vacations (VAC) to Overweight from Equal Weight with a price target of $116, up from $97. The firm says timeshare remains its least favorite sector in the gaming and leisure, but it is no longer net negative timeshare on a standalone basis, following its conference where all three operators sounded net positive post-election. Barclays sees Marriott Vacations as the “cleanest, most attractive way” to gain long exposure to potential upside within timeshare in 2025. The firm says the company is the highest net worth consumer of the three operators.
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