UPDATE: Goldman Sachs Raises PT on Wyndham Worldwide Corporation Following Timeshare Visit

In a report published Wednesday, Goldman Sachs analyst Steven Kent raised his price target on Wyndham Worldwide Corporation

from $69.00 to $71.00. In the report, Kent noted, “We toured the Wyndham Bonnet Creek in Orlando and were impressed with the quality of the product and sophistication of the selling process. It is uniquely situated very close to Disney theme parks but within a hotel/resort complex that is 500 acres (250 usable) that appeals to a wide range of customers. We would highlight the following incremental positives. First, management sees considerable opportunity in opening timeshare operations in new markets such as Asia Pacific and New York. Second to sustain growth rates they need to add roughly 25k new customers. The combination of selling more points to existing customers and bringing in well financed new should give them a sustainable mid to high single digit growth rate. This growth is also sustainable as a number of their competitors have left the market following the financial crisis.” Wyndham Worldwide Corporation closed on Tuesday at $62.10.