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Fly News Breaks for December 12, 2017
BXG
Dec 12, 2017 | 08:25 EDT
SunTrust analyst C. Patrick Scholes initiated Bluegreen Vacations with a Buy rating and a price target of $19. Scholes says the company differentiates itself from competitors with majority of timeshare sales going to new owners rather than focusing on upgrading existing clients. The analyst is also positive on the company's valuation of about 6.6 times FY18 EBITDA vs over 10-times for peers, forecasting the overhang of slower tour volume and increasing consumer loan defaults to subside.
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