Market Overview

UPDATE: Goldman Sachs Upgrades Marriott Vacations Worldwide; Raises PT

Related VAC
Why MKM Just Upgraded Marriott Vacations (Hint: The Market Overreacted)
MKM Downgrades Marriott Vacations, Risk-Reward Surrounding 2018 Upside Scenario Better Priced Daily Round Up 8/24/15: SCTY, ADXS, MKTO, MRD (Seeking Alpha)

According to a research report published this morning, Goldman Sachs has upgraded Marriott Vacations Worldwide (NYSE: VAC) from Neutral to Buy, and raised PT from $29.50 to $38.

In the report, Goldman Sachs said, "We have become more confident in VAC's story and view it as a solid cash flow producer with an inexpensive valuation. Assuming no capital allocation or acquisitions we believe the company could accumulate $700mn of cash by 2016 or even more including land sales. We think the shares are primed for outperformance as it is currently trading at 5.9X 2013 EV/EBITDA, (excluding value for land/excess inventory), has a free cash flow yield of 12%, and a fundamental story of EBITDA and margin growth."

Marriott Vacations Worldwide is currently trading at $30.90.

Latest Ratings for vac

Jul 2015SunTrust Robinson HumphreyMaintainsNeutral
Jul 2015MKM PartnersUpgradesNeutralBuy
Jul 2015MKM PartnersDowngradesBuyNeutral

View More Analyst Ratings for vac
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Price Target Analyst Ratings


Related Articles (vac)

View Comments and Join the Discussion!

Get Benzinga's Newsletters