BofA raised the firm’s price target on Marriott (MAR) to $300 from $275 and keeps a Buy rating on the shares. The firm expects Q3 results to be within outlook ranges for C-corps in the Lodging sector and its tracker is unchanged with finalized September data, although the firm thinks the high end of outlooks may be difficult to achieve for some, the analyst tells investors. Overall, Q3 U.S. RevPAR was up year-over-year and ex-China remains a tailwind for the sector, the firm adds. Additionally, BofA notes the company is tracking up ahead of consensus and within outlooks.
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Read More on MAR:
- MGM Resorts and Marriott to launch W Las Vegas
- Marriott price target raised to $270 from $245 at Evercore ISI
- QQQ ETF Update, 10/21/2024
- Marriott introducing The Luxury Collection and AC Hotels to Shenzhen
- QQQ ETF Update, 10/16/2024
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