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Fly News Breaks for March 4, 2019
Mar 4, 2019 | 08:24 EDT
SunTrust analyst C. Patrick Scholes raised his price target on Marriott to $137 after its Q4 results reported last week, noting that the earnings call indicated that the expenses related to the company's data breach are likely to be "far less material than feared". The analyst also keeps his Hold rating on the shares, pointing to the continued slide in Marriott's RevPAR growth and adding that the management seems to have eschewed its typically conservative outlook. Instead, Scholes contends that Marriott had a "relatively more positive bias on the year" and sees the high end of its RevPAR outlook range as being "very challenging to achieve".
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