Nomura Securities Maintains a 'Buy' on Marriott International (MAR); Q2 Review
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Price: $43.36 -0.85%
Rating Summary:
15 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
15 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade MAR Now!
Nomura Securities maintains a 'Buy' on Marriott International (NYSE: MAR).
Nomura analyst, Harry Curtis, said, "MAR reported 2Q EPS Of $0.37, in line with expectations. The stock traded down after the close because it reduced its 2011 worldwide RevPAR guidance by 50-75 bps and the top end of EPS by $0.02. There is no change to our $51 target price, and we would be buyers on weakness. Most of the EPS reduction was from the timeshare segment, which is going to be spun off, and a RevPAR reduction was attributable to continued negative comps in the Middle East and Africa. Lower share prices could result in a short-term positive for a company that intends to repurchase another $1-2 billion of stock. In the long run, repurchasing stock at depressed prices enhances long-term equity value."
For more ratings news on Marriott International click here and for the rating history of Marriott International click here.
Shares of Marriott International closed at $37.14 yesterday, with a 52 week range of $30.05-$42.78.
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Nomura analyst, Harry Curtis, said, "MAR reported 2Q EPS Of $0.37, in line with expectations. The stock traded down after the close because it reduced its 2011 worldwide RevPAR guidance by 50-75 bps and the top end of EPS by $0.02. There is no change to our $51 target price, and we would be buyers on weakness. Most of the EPS reduction was from the timeshare segment, which is going to be spun off, and a RevPAR reduction was attributable to continued negative comps in the Middle East and Africa. Lower share prices could result in a short-term positive for a company that intends to repurchase another $1-2 billion of stock. In the long run, repurchasing stock at depressed prices enhances long-term equity value."
For more ratings news on Marriott International click here and for the rating history of Marriott International click here.
Shares of Marriott International closed at $37.14 yesterday, with a 52 week range of $30.05-$42.78.
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