Marriott International (MAR) Trimmed But Remain Street High - Jefferies

Jefferies analyst David Katz reiterated a Buy rating and $208.00 price target on Marriott International (NASDAQ: MAR) but reduced the 1Q22 RevPAR and margin estimates while maintaining the 'Street High' longer term on the acceleration of business travel that should lead to peak earnings and a premium multiple.

The analyst stated "we're revising our RevPAR estimate downward to $87.06 (-20.8% vs 2019) from $89.74 (-17.7%). Due to an Omicron-related slowdown (RevPAR -31% in Jan), Mgt noted on their last earnings call the possibility for 1Q22 RevPAR to be lower than -18.9% in 4Q21. Still, we are above the Street's $83.90 (-23.5%) as we're bullish on the March recovery and believe that early signs of business travel, which according to AMEX GBT is currently 61% recovered, should bolster results."

For an analyst ratings summary and ratings history on Marriott International click here. For more ratings news on Marriott International click here.

Shares of Marriott International closed at $183.15 yesterday.

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