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Fly News Breaks for August 2, 2019
HGV
Aug 2, 2019 | 06:29 EDT
JPMorgan analyst Brandt Montour downgraded Hilton Grand Vacations to Underweight from Neutral and cut his price target for the shares to $24 from $30. The analyst expects poor sentiment to weigh on shares until the company's contract sales reaccelerate in a consistent way, which he feels is not likely until 2020. Further, Montour would not be surprised if investors start re-questioning consumer demand for timeshare more broadly following Hilton Grand's "weak" Q2 results.
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