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Jefferies initiated coverage on Wyndham Worldwide
WYN with a Buy rating and $49 price target in a research report published today.
In the report, Jefferies states, "We believe WYN is a significantly undervalued stock in a market environment where valuation bears little relevance. However, we believe these conditions should change over time, with WYN being a primary beneficiary. We expect
the market view of timeshare to become more positive and the top line stable growth, cash generation and equity accretion should result in a more appropriately valued share price."
Shares of Wyndham Worldwide closed at $33.26 today, down 0.56% from Monday's market close.
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