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Fly News Breaks for May 8, 2015
MAR, HOT
May 8, 2015 | 12:51 EDT
After Marriott (MAR) CEO Arne Sorenson discussed the potential outcomes of Starwood's (HOT) strategic review process, Well Fargo reiterates its belief that Starwood undertook a review of alternatives as a means of "controlling the narrative in the face of growing shareholder activism." Wells thinks Starwood's board is likely to use the process to address the company's problems. Short of an "aggressive" unsolicited buyout offer, Wells expects the hotel chain may be looking for an acquisition. It keeps a Market Perform rating on Starwood.
News For HOT;MAR From the Last 2 Days
MAR
Apr 23, 2024 | 06:37 EDT
Mizuho lowered the firm's price target on Marriott to $260 from $263 and keeps a Neutral rating on the shares. The analyst cites a more conservative view on RevPAR ahead of the Q1 report for the target drop. RevPAR trends have been slightly weaker than previously modeled, primarily in the United States, the analyst tells investors in a research note.
