Marriott Vacations price target lowered to $70 from $74 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Marriott Vacations (VAC) to $70 from $74 and keeps an Equal Weight 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.