Evercore ISI lowered the firm’s price target on Marriott (MAR) to $320 from $330 and keeps an Outperform rating on the shares. In Q1, the company’s adjusted EBITDA and adjusted EPS increased on systemwide revenue per available room, revPAR, growth, the analyst tells investors. While the company lowered its FY25 year-over-year revPAR outlook due to softer U.S. demand, fee and EBTIDA growth were largely unchanged, supported by strong international revPAR, anticipated acquisition-related fees, and reduced foreign exchange headwinds, the firm adds.
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