Morgan Stanley has adjusted its rating for Marriott Vacations (VAC, Financial), upgrading the stock from Underweight to Equal Weight. The investment firm also revised its price target for the company, setting it at $57, down from the previous target of $67.
This change comes after Marriott Vacations' stock showed underwhelming performance so far this year. The analyst suggests that the current valuation of the stock presents a more balanced risk/reward profile. Morgan Stanley notes that the company's valuation appears to be approaching its lowest levels, which influenced their decision to adjust the rating.
