UPDATE: Cantor Fitzgerald Initiates Coverage on Diamond Resorts International with Buy Rating, $23 PT on Positive Forecast

In a report published Tuesday, Cantor Fitzgerald analyst Robert LaFleur initiated coverage on

with a Buy rating and $23.00 price target. In the report, Cantor Fitzgerald noted, “We are initiating coverage of Diamond Resorts International with a BUY rating and a $23 target price. Diamond Resorts is the second publicly traded pure-play timeshare company in the market after Marriott Vacations Worldwide. Diamond's core businesses are managing timeshare resorts, selling timeshares, and providing financing for consumers' purchases of timeshare products. Between 2012 and 2015, we estimate that Diamond will grow revenues at a compounded annual rate of 17% and adjusted EBITDA at a compounded annual rate of 33%.” Diamond Resorts International closed on Monday at $16.43.