Marriott Vacations price target lowered to $54 from $63 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Marriott Vacations (VAC) to $54 from $63 and keeps a Sell rating on the shares. Marriott Vacations’ guidance cut and execution challenges were larger than anticipated, prompting broad reductions to estimates, and while sequential improvement in October offers some optimism, the new guidance remains uncertain amid a choppy consumer environment, the analyst tells investors in a research note. The issues appear driven more by internal execution rather than macro pressures, suggesting that additional investments, particularly in Sales and Marketing, may be needed despite ongoing cost-cutting efforts, the firm says.