Travel + Leisure price target raised to $81 from $71 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Travel + Leisure (TNL) to $81 from $71 and keeps a Neutral rating on the shares. Travel + Leisure Co. delivered another strong quarter, with initial 2026 guidance appearing conservative despite some complexity from the Resort Optimization Initiative and a mix shift to new owners, the analyst tells investors in a research note. Excluding a $15M-$25M EBITDA benefit from the initiative, guidance aligns with consensus, while long-term prospects remain attractive, with mid-single digit EBITDA growth and mid-teens EPS growth expected, though near-term execution on new owner VPG growth will be key for investor conviction, the firm adds.