JPMorgan Chase & Co. Upgrades Marriott International to Overweight (MAR)
Marriott International (NYSE:MAR) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $58.00 target price on the stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 18.97% from the company’s current price.
The analysts wrote, “In recent notes, we have written that MAR’s P/E and EV/EBITDA valuation multiples were in the realm of fair valuation and have been waiting for the proverbial pullback to get more positive on the name.”
A number of other analysts have also recently weighed in on MAR. Analysts at Jefferies Group downgraded shares of Marriott International from a “hold” rating to an “underperform” rating in a research note to investors on Monday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Marriott International in a research note to investors on Thursday. They now have a $52.00 price target on the stock. Finally, analysts at MKM Partners raised their price target on shares of Marriott International from $50.00 to $55.00 in a research note to investors on Wednesday, December 18th. They now have a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $50.00.
Marriott International (NYSE:MAR) traded down 1.08% on Monday, hitting $48.75. 2,818,412 shares of the company’s stock traded hands. Marriott International has a one year low of $38.17 and a one year high of $49.84. The stock has a 50-day moving average of $47.61 and a 200-day moving average of $43.79. The company has a market cap of $14.602 billion and a P/E ratio of 23.72.
Marriott International (NYSE:MAR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.07. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the company posted $0.44 earnings per share. Marriott International’s revenue was up 15.8% compared to the same quarter last year. Analysts expect that Marriott International will post $2.01 EPS for the current fiscal year.
Marriott International, Inc is a diversified hospitality company. It is a lodging company with more than 3,700 properties in 73 countries and territories.
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