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Fly News Breaks for August 6, 2019
Aug 6, 2019 | 07:48 EDT
Marriott International's recent results are likely to pressure shares in the near term, Jefferies analyst David Katz tells investors in a post-earnings research note titled "Harder Than It Seems." The analyst believes investors are likely to focus on the company's moderated unit growth projections, reduced earnings guidance, and softer capital return projections. The combination of these factors in the context of an anticipated softening macro will challenge incrementally higher valuations, says Katz, who keeps a Hold rating on Marriott with a $140 price target.