BMO Capital raised the firm’s price target on Marriott (MAR) to $285 from $280 but keeps a Market Perform rating on the shares. The company delivered a Q3 EBITDA beat, driven by higher franchise fees, and while the Q4 guidance was more mixed, it appears to embed some fee-related conservatism, the analyst tells investors in a research note. Underlying demand fundamentals remain challenged, with weaker U.S. trends further pressured by government-related softness and signs of macro-headwinds impacting smaller enterprises, the firm added.
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