BUZZ-J.P.Morgan cuts Marriott Vacations Worldwide PT on Maui recovery

** J.P.Morgan cuts PT on hospitality company Marriott Vacations Worldwide Corp VAC.N to $108 from $116

** Brokerage says VAC's Q2 forecast on contract sales is below its estimates

** VAC, on Friday, said it expected Q2 contract sales to be up 2% to 4% compared to prior year, despite an expected four-point headwind due to Maui wildfires

** "While it is possible that consumer softness could be attributable to the lower 2Q24 target, we suspect that it is more likely a function of stagnating improvements in Maui" - JPM

** Brokerage does see any observable catalyst with stock and believes that shares could remain cheap as the recovery in Maui poses a risk to its full-year guidance

** Five of brokerages rate the stock "buy" or higher, three "hold" and one "sell"; their median PT is $116

** Up to Friday's close, stock had risen ~6% YTD

(Reporting by Kannaki Deka)

((Kannaki.Deka@thomsonreuters.com))