JPMorgan initiates Hilton Grand Vacations stock at neutral

JPMorgan has initiated coverage on Hilton Grand Vacations Inc. (NYSE:HGV) with a Neutral rating, setting a price target of $39.00, according to a report released Tuesday. The stock is currently trading at $34.59, near its 52-week low of $33.98. The firm noted that Hilton Grand Vacations has underperformed and trades at a discount to competitors TNL and VAC, with soft operating trends and potential challenges from the macroeconomic backdrop and interest rate environment.

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