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Hilton Grand Vacations upgraded to Neutral at JPMorgan.

As previously reported, JPMorgan analyst Brandt Montour upgraded Hilton Grand Vacations (HGV) to Neutral from Underweight, with a $33 price target, as he believes the New York Post article about Apollo Global (APO) looking to either take the company private or merge with its Diamond Resorts as credible. Further, there could be other large private equity players as potentially circling, as the article mentioned Blackstone (BX) as a potential suitor, he notes. Montour also sees the cited potential bid price of $36 per share as credible and not really that surprising given debt financing is plentiful and the strategic nature of the transaction.

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Publication:The Fly
Date:Aug 20, 2019
Words:103
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