Marriott International (MAR – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Richard Clarke from Bernstein maintained a Buy rating on the stock and has a $328.00 price target.
Richard Clarke has given his Buy rating due to a combination of factors including Marriott’s strong financial performance and strategic positioning. The company reported a notable 4.1% growth in RevPAR, which led to a 3% beat in EBITDA for the first quarter. This performance was particularly strong compared to its peers, with Marriott’s RevPAR growth outpacing that of Hilton and Hyatt.
Despite a slight downgrade in full-year RevPAR guidance, Marriott’s overall guidance remains more stable than its competitors, with only minor adjustments to fee revenue and EBITDA expectations. The acquisition of CitizenM and stable guidance for investment spend and capital return further bolster confidence in Marriott’s growth prospects. Additionally, Marriott’s development pipeline shows robust growth, with a significant increase in pipeline rooms, indicating strong future expansion potential.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $290.00 price target.
MAR’s price has also changed slightly for the past six months – from $276.260 to $251.960, which is a -8.80% drop .