Jefferies Initiates Coverage of Marriott (MAR)


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Jefferies & Co. reported on Monday that they are initiating coverage of hospitality company, Marriott International, Inc.( MAR ).

The firm reported that they will be covering MAR, and have started the company with a "Hold" rating with a price target of $34. This price target suggests a slight decline from the stock's current price of $34.43.

An analyst from the firm commented, "Marriott's domestic prowess is attractive, as is its asset-light model. We forecast recurring double-digit earnings growth, despite limited exposure to faster-growing Emerging Markets. However, we think Marriott is fairly valued for what is a more defensive, US-centric operator. Hence, we initiate with a Hold recommendation."

Marriott shares were mostly flat during premarket trading Monday.

The Bottom Line
Shares of Marriott International ( MAR ) have a 1.51% dividend yield, based on Friday's closing stock price of $34.43. The stock has technical support in the $30-$31 price area. If the shares can firm up, we see overhead resistance around the $36-$38 price levels.

Marriott International, Inc.( MAR ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks

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