Marriott price target raised to $265 from $250 at BMO Capital

BMO Capital raised the firm’s price target on Marriott (MAR) to $265 from $250 and keeps a Market Perform rating on the shares. The company delivered a solid Q1, bolstered by strength in international markets, and while U.S./Canada demand softened in March, it was largely related to weakness in government and select-service demand, with minimal impact to group and full-service, the analyst tells investors in a research note. BMO adds however that Marriott’s guidance assumes that current demand holds with downside risk if the macro environment further weakens.