Oppenheimer Reiterates Outperform on Interval Leisure Group (IILG) Ahead of 3Q Report
- Wall Street hits record high for third day in a row
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
- Exclusive: Japan's TDK in talks to buy iPhone supplier InvenSense - sources
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Oppenheimer reiterated an Outperform rating and $22.00 price target on Interval Leisure Group (NASDAQ: IILG) ahead of the company's 3Q report. IILG should report 3Q16 results on November 8. Oppenheimer is looking for revenues and EBITDA of $435/$77M, driven by Vistana synergies and the stability of the exchange business.
Analyst Ian Zaffino commented, "We anticipate solid 3Q16 results when Interval reports its first full quarter with Vistana. Upscale VO sales remain strong and we believe IILG has been insulated from thirdparty defaults, unlike lower-end competitors, Diamond and Wyndham. The recently announced “standstill” involving IILG, VAC and MAR eliminates near-term uncertainty and sets the stage for future consolidation. We adjust 2016E EBITDA to $282M from $276M, owing to PoC accounting treatment of the Nanea property, post the company's receipt of its OC. Maintain Outperform and $22 price target."
Shares of Interval Leisure Group closed at $17.19 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Raises Price Target on Casey's General Stores (CASY) Following 2Q Earnings Report
- Jefferies Adjusts Estimates on Ciena (CIEN) - PT to $29
- UBS Raises Price Target on Dick's Sporting Goods (DKS) to $69
Create E-mail Alert Related CategoriesAnalyst Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!