Jefferies upgraded Marriott (MAR) to Buy from Hold with a price target of $303, up from $226. The company’s business model strength is positioned to grow through the currently uncertain business climate, and therefore peak multiples are appropriate, the analyst tells investors in a research note. The firm says the earnings growth and durability of Marriott justify a higher valuation, as the current economic uncertainty provides an opportunity.
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Read More on MAR:
- Marriott raises quarterly dividend to 67c per share from 63c
- Marriott price target raised to $265 from $250 at Baird
- Marriott International’s Strong Performance and Growth Potential Justifies Buy Rating
- Marriott’s Strong Financial Performance and Strategic Positioning Earns Buy Rating Despite Minor Guidance Adjustments
- Marriott price target raised to $252 from $236 at Barclays
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