2021-02-22 08:14:30 MAR Marriott
02/22/21 02/2208:14 02/22/2108:14 | Marriott price target raised to $154 from $147 at Wells FargoWells Fargo analyst Dori Kesten raised the firm's price target on Marriott to $154 from $147 and keeps an Overweight rating on the shares. The analyst expects the reacceleration in lodging demand, which he expects to occur in March, should serve as a tailwind to lodging shares. However, with greater exposure to higher end/full-service hotels, the likelihood of returning capital to shareholders in the next year, and with its 2022 EV/EBITDA 7% below its 2019 multiple while peers are averaging up 5%, Kesten believes there's more upside potential to Marriott's shares versus its immediate peers'. | |
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