Nomura Securities Reiterates a 'Buy' on Marriott International (MAR); Review of 1Q Results
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Price: $356.72 +1.19%
Rating Summary:
19 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
19 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities reiterates a 'Buy' on Marriott International (NYSE: MAR).
Nomura analyst, Harry Curtis, said, "Regarding RevPAR, there is no change in our outlook although 2Q-4Q W.W. estimates of up 7-7.5% could have upside as long as N.A. trends remain healthy. MAR’s implied N.A. RevPAR for the balance of 2011 is up 7.5-8.8% which if achieved, could improve sentiment on the stock significantly. Despite disappointing margin performance in 1Q, we note that if RevPAR is up 7.5% 2Q-4Q, margin expansion of 100-150bps is doable. Additionally, we note that the shortfall in IMFs is offset by an increase in timeshare assumptions. Reiterate Buy rating and positive thesis as the recovery is on track, MAR is not losing share, and MAR’s business model is the strongest in the industry."
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 $35.87 yesterday.
Nomura analyst, Harry Curtis, said, "Regarding RevPAR, there is no change in our outlook although 2Q-4Q W.W. estimates of up 7-7.5% could have upside as long as N.A. trends remain healthy. MAR’s implied N.A. RevPAR for the balance of 2011 is up 7.5-8.8% which if achieved, could improve sentiment on the stock significantly. Despite disappointing margin performance in 1Q, we note that if RevPAR is up 7.5% 2Q-4Q, margin expansion of 100-150bps is doable. Additionally, we note that the shortfall in IMFs is offset by an increase in timeshare assumptions. Reiterate Buy rating and positive thesis as the recovery is on track, MAR is not losing share, and MAR’s business model is the strongest in the industry."
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 $35.87 yesterday.
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