Deutsche Bank Meets With WYN Management, Investors Remain Comfortable

Deutsche Bank has published a research report for Wyndham Worldwide Corporation

following meetings with management. In the report, Deutsche Bank writes "participated in a series of investor meetings w/ WYN CEO Steve Holmes and CFO Tom Conforti. Tone was confident & upbeat, particularly on execution of stated FCF strategy. Underlying trends continue to improve at a steady, measured pace. We view incremental investor comfort w/ timeshare & rental/exchange as key to narrowing multiple gap vs. peers; we see mgt continuing to be proactive on this front and are encouraged by investor interest." Deutsche Bank maintains its Buy rating and $34 price target. Wyndham Worldwide closed yesterday at $28.03.