Hilton Grand Vacations price target lowered to $48 from $51 at Morgan Stanley

Morgan Stanley analyst Stephen Grambling lowered the firm’s price target on Hilton Grand Vacations (HGV) to $48 from $51 and keeps an Overweight rating on the shares. The firm updated estimates in the lodging group to reflect recent industry data. While interest rate cuts won’t be a “panacea,” there is a path to RevPAR trends stabilizing and better hotel development, the analyst tells investors in a research note.