Nomura Securities Reiterates a 'Buy' on Marriott (MAR); Q3 Review
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Price: $40.82 +0.39%
Rating Summary:
17 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
17 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade MAR Now!
Nomura Securities reiterates a 'Buy' on Marriott International (NYSE: MAR) price target of $35.00.
Nomura analyst, Harry Curtis, said, "Catalysts for the stock include: 1) system-wide rooms should increase 4.5% per annum through 2013, supported by a 105k room global pipeline and 2) 2011 IMFs are expected to be 44% below peak levels, which leaves a lot of earnings upside. When the economy eventually reaccelerates, even modestly, IMFs could drive fee revenue to $1.7bln (16% above the peak) in 2013. We adjusted our 2011E EPS to $1.43 from $1.46, 2012E to $1.74 from $1.77 and 2013E to $2.37 from $2.44. During periods of sluggish economic growth, 0-2%, the stock has traded at 11x. MAR is now trading at a 17% discount to that multiple. Using 11x the stock should trade at $35, 22% above its current level."
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 $28.78 yesterday, with a 52 week range of $25.49-$42.78.
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Nomura analyst, Harry Curtis, said, "Catalysts for the stock include: 1) system-wide rooms should increase 4.5% per annum through 2013, supported by a 105k room global pipeline and 2) 2011 IMFs are expected to be 44% below peak levels, which leaves a lot of earnings upside. When the economy eventually reaccelerates, even modestly, IMFs could drive fee revenue to $1.7bln (16% above the peak) in 2013. We adjusted our 2011E EPS to $1.43 from $1.46, 2012E to $1.74 from $1.77 and 2013E to $2.37 from $2.44. During periods of sluggish economic growth, 0-2%, the stock has traded at 11x. MAR is now trading at a 17% discount to that multiple. Using 11x the stock should trade at $35, 22% above its current level."
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 $28.78 yesterday, with a 52 week range of $25.49-$42.78.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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