Hilton Grand Vacations price target raised to $51 from $42.50 at BofA

BofA raised the firm’s price target on Hilton Grand Vacations (HGV) to $51 from $42.50 and keeps a Neutral rating on the shares. The timeshare company reported Q2 EBITDA of $278M, in-line with the firm’s estimates, and reiterated its EBITDA outlook of $1.125B-$1.165B, notes the analyst. Hilton Grand needs a second half EBITDA acceleration to meet guidance, but is helped by lower sales/marketing costs, improvement in rentals, and strong club/resort fees, the analyst tells investors.