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Fly News Breaks for March 27, 2018
VAC
Mar 27, 2018 | 09:17 EDT
SunTrust analyst C. Patrick Scholes raised his price target on Marriott Vacations to $149, saying that after the company's latest quarter, he concluded that his prior FY19 margin outlook was likely too conservative due to better than expected marketing and sales leverage. Scholes also raises his FY19 EPS view to $7.54 from $7.33 based on the unchanged valuation multiple of 11.1-times expected FY19 EBITDA. The analyst keeps his Hold rating on Marriott Vacations, with "multiples above historical peak levels" and M&A expectations priced into the stock.
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