Wedbush Morgan Adjusts Price Target & Estimates on Marriott Int'l (MAR), Keeps 'Neutral' Rating
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Wedbush Morgan maintains a Neutral rating on Marriott International (NYSE: MAR), raises price target from $16 to $20.
Wedbush analyst says, "We are raising our 2010 EPS estimate to $0.88 from $0.79 to account for ~$0.06 in non-cash EPS associated with new timeshare accounting rules (FAS 166/167) and slightly higher unit growth. Our 2009 estimate is unchanged at $0.85. Our estimates are based on worldwide constant $ RevPAR declines of 18.8% and 0.8% in 2009 and 2010. Our (Neutral rating and changes in EPS estimate and price target) reflects our view that MAR’s relatively stable fee based business, above average balance sheet and tenured management team are already reflected in valuation."
To see more analyst ratings on MAR Click Here.
Marriott International, Inc., a hospitality company, operates and franchises hotels and related lodging facilities worldwide.
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