Deutsche Bank Comments On Wyndham Worldwide (WYN)

Deutsche Bank commented on Wyndham Worldwide WYN in a research report published today. Deutsche Bank has previously given Wyndham Worldwide a Buy rating and $38 price target. In the report, Deutsche Bank states, "We believe a new and large standalone public timeshare company is an incremental positive for WYN. A sizable publicly traded peer should provide alternative ways to for investors to express investment ideas, which we think will ultimately lead to more liquidity and interest in the sector generally and in WYN specifically. The spin-out announcement itself does not provide a valuation data point; however, we think the existence of a comparable company should generate renewed interest in WYN (potentially from investors who have not looked at the stock or the timeshare industry before). Recall, we believe the relative predictability and sustainability of WYN's free cash flow model remains underappreciated by the market." Shares of Wyndham Worldwide were at $30.00 in pre-market trading at the time of posting, up 1.01% from Monday's market close.