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Fly News Breaks for October 23, 2015
HOT, WYN, DRII, VAC
Oct 23, 2015 | 09:24 EDT
After The Wall Street Journal reported that Interval Leisure (IILG) will buy Starwood's (HOT) timeshare business for $1B-$1.5B, JMP Securities says the report indicates that the publicly traded timeshare names are "meaningfully undervalued." The firm thinks the news, if proven accurate, has positive implications for Marriott Vacations (VAC), Diamond Resorts (DRII), and Wyndham Worldwide (WYN). It keeps Outperform ratings on all three names.
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