Travel + Leisure Co. (NYSE:TNL) Sees Optimistic Price Target from Jefferies

• David Katz from Jefferies sets a price target of $62 for Travel + Leisure Co. (NYSE:TNL), indicating a potential increase of 31.16%.
• TNL reports Q3 2024 revenue of $993 million, a slight miss against the Zacks Consensus Estimate but showcases a 0.7% year-over-year increase.
• The company's earnings per share (EPS) of $1.57 beat the consensus estimate, marking a positive surprise of 5.37%.

Travel + Leisure Co. (NYSE:TNL) is a prominent player in the travel and leisure industry, offering a range of services and products that cater to vacation enthusiasts. The company is known for its timeshare and vacation ownership programs, which are popular among travelers seeking flexible vacation options. TNL competes with other major players in the industry, such as Marriott Vacations Worldwide and Hilton Grand Vacations.

On October 23, 2024, David Katz from Jefferies set a price target of $62 for TNL, suggesting a potential price increase of approximately 31.16% from its current price of $47.27. This optimistic outlook comes on the heels of TNL's Q3 2024 earnings conference call, where key company figures, including CEO Michael Brown, discussed the company's financial performance and strategic initiatives with analysts from top financial institutions.

During the earnings call, TNL reported a revenue of $993 million for the quarter ending September 2024, marking a 0.7% increase from the previous year. However, this figure fell short of the Zacks Consensus Estimate of $1.01 billion, resulting in a negative surprise of 1.85%. Despite this revenue miss, TNL's earnings per share (EPS) of $1.57 exceeded expectations, surpassing the consensus estimate of $1.49 and reflecting a positive surprise of 5.37%.

TNL's consistent ability to outperform consensus EPS estimates over the past four quarters highlights its strong financial management. In the previous quarter, the company reported earnings of $1.52 per share, exceeding the anticipated $1.39, resulting in a 9.35% surprise. This trend of surpassing earnings expectations underscores the company's resilience and potential for future growth, as highlighted by David Katz's price target.

The stock's current price of $47.27 reflects a recent increase of 4.03%, with a trading range between $46.71 and $49.08 for the day. Over the past year, TNL has seen a high of $49.91 and a low of $32.10, indicating some volatility. With a market capitalization of approximately $3.3 billion and a trading volume of 1,379,549 shares, TNL remains a significant player in the market, attracting attention from investors and analysts alike.