Nomura Securities Maintains a 'Buy' on Marriott International (MAR); Review of 1Q Results

Nomura Securities maintains a 'Buy' on Marriott International (NYSE: MAR).

Nomura analyst, Harry Curtis, says, "We think the worst quarter should be behind MAR, with several important positives coming out of the quarter, including an unchanged RevPAR outlook (+6-8%) and aggressive share repurchase (13.4mn share repurchased YTD). Management commentary about the balance of the year is also optimistic: business transient demand is very strong and corporate group demand continues to build. We note that MAR’s outlook implies the balance of 2011 is far better than 1Q. 1Q was poor when compared to the improvement expected through year end: North American house profit margins should increase to a range of +180-200bp for the balance of 2011 versus the (30) bps in 1Q."

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 $35.28 yesterday.

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