** Brokerage Needham downgrades vacation rental management co Vacasa Inc VCSA.O to "hold" from "buy"
** Says co is facing significant challenges in increasing its supply of rental properties
** Estimates Gross Booking Value (GBV) to decline through 2025, dragged by lower GBV per night sold as well as declining nights sold
** However, Needham sees opportunity for VCSA to aggregate demand by providing better outcomes for property owners who use its purpose-built tech stack, generating more money and spending less time on managing rentals
** Co announced on Monday it will merge with fellow vacation rental firm Casago, which will acquire Vacasa shares at $5.02 each
** Avg. rating of six brokerages covering the stock is a "hold"; median PT $3.25 - LSEG
** Up to Monday's close, stock down ~41% YTD
(Reporting by Joel Jose in Bengaluru)
((joeljose@thomsonreuters.com))
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