JPM initiates coverage on Hilton Grand Vacations with "overweight" rating

Hilton Grand Vacations

15/04/2024 11:59

** Brokerage J.P. Morgan initiates coverage of
timeshare-operator Hilton Grand Vacations  HGV.N  with a PT of
$59, rating the stock "overweight" 
    ** Says HGV has grown its owner base above that of its
closest peers since 2018 
    ** Says growth in its ownership has resulted in higher
contract sales, both from new owner growth and existing owner
upgrades
    ** The price target represents a 35.5% upside to the stock's
last close
    ** 7 of 8 brokerages rate the stock "buy" or higher, 1
"hold"; their median PT is $54
    ** Shares up 8.34% YTD

 (Reporting by Aishwarya Jain in Bengaluru)
 ((Aishwarya.Jain@thomsonreuters.com;))