Nomura Securities Maintains a 'Buy' on Marriott International (MAR); Long-term Value Compelling
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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 maintains a 'Buy' on Marriott International (NYSE: MAR).
Nomura analyst says, "Hosted meetings with management and despite short-term headwinds, long-term value is compelling. Lagging RevPAR is the norm at this point in the cycle given MAR’s exposure to group, and performance should improve as legacy group bookings burn off. We continue to believe MAR IMFs should increase to at least $335mn at a 7% RevPAR by 2013. At 9.0x 2012E EBITDA, MAR is trading 30% below its average multiple of 13x. The stock may not have a near-term catalyst, which gives MAR opportunity to repurchase stock while investors are unfocused on its long-term value. We recommend buying the stock ahead of the spin (Nov/Dec timeframe) and improving 4Q11 and 1H12 results."
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 $34.26 yesterday.
Nomura analyst says, "Hosted meetings with management and despite short-term headwinds, long-term value is compelling. Lagging RevPAR is the norm at this point in the cycle given MAR’s exposure to group, and performance should improve as legacy group bookings burn off. We continue to believe MAR IMFs should increase to at least $335mn at a 7% RevPAR by 2013. At 9.0x 2012E EBITDA, MAR is trading 30% below its average multiple of 13x. The stock may not have a near-term catalyst, which gives MAR opportunity to repurchase stock while investors are unfocused on its long-term value. We recommend buying the stock ahead of the spin (Nov/Dec timeframe) and improving 4Q11 and 1H12 results."
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 $34.26 yesterday.
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