Mizuho upgraded Marriott Vacations (VAC) to Outperform from Neutral with a price target of $104, up from $58. The company’s new CEO, Matthew Avril, has brought its sales force disruption under control, the analyst tells investors in a research note. The firm believes Marriott Vacations is leveraging events and experiences to drive owner upgrades, which could be an underappreciated “major catalyst” for the shares. With the stock trading at a discount to peers, Marriott Vacations’ risk/reward is compelling, contends Mizuho.
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