Travel + Leisure price target raised to $89 from $77 at Stifel

Stifel raised the firm’s price target on Travel + Leisure (TNL) to $89 from $77 and keeps a Buy rating on the shares. The firm adjusted its 2026 and 2027 EPS estimates down for Travel + Leisure to reflect a higher tax rate and also a lower number of shares repurchased at Wednesday’s higher share price, which results in a larger denominator than prior estimates, the analyst tells investors in a research note. The firm added that the company announced a resort optimization initiative that it said should result in a positive net impact to adjusted EBITDA beginning in 2026.