Nomura Securities Maintains a 'Buy' on Marriott International (MAR); Q2 Review
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Price: $356.57 -0.04%
Rating Summary:
19 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
19 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Nomura Securities maintains a 'Buy' on Marriott International (NYSE: MAR) price target of $43.00.
Analyst, Harry C. Curtis, said, "MAR reported an essentially in-line 2Q ($0.42), with lower-than-expected fee income (~$15m) offset by higher owned/leased revenue (~$30m). The company did lift its 3Q (and 2012 EPS outlook by ~ 4% to $1.65- $1.75), but all of the increase is due to a $40m gain on the sale of its Courtyard joint venture interest. MAR did lower its fee revenue forecast by $15-$25m owing to weakness mainly in Asia and the Middle East (~15% of earnings). RevPAR in Europe of 2.6% is also likely to remain a headwind, although MAR had baked it into its previous forecasts. In our 2Q preview, our concern was that the global RevPAR strength seen in 1H12 could be repeated in 2H12. Weakness in the global economy is impacting MAR’s ability to drive double-digit RevPAR in many of its international markets."
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 $38.03 yesterday.
Analyst, Harry C. Curtis, said, "MAR reported an essentially in-line 2Q ($0.42), with lower-than-expected fee income (~$15m) offset by higher owned/leased revenue (~$30m). The company did lift its 3Q (and 2012 EPS outlook by ~ 4% to $1.65- $1.75), but all of the increase is due to a $40m gain on the sale of its Courtyard joint venture interest. MAR did lower its fee revenue forecast by $15-$25m owing to weakness mainly in Asia and the Middle East (~15% of earnings). RevPAR in Europe of 2.6% is also likely to remain a headwind, although MAR had baked it into its previous forecasts. In our 2Q preview, our concern was that the global RevPAR strength seen in 1H12 could be repeated in 2H12. Weakness in the global economy is impacting MAR’s ability to drive double-digit RevPAR in many of its international markets."
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 $38.03 yesterday.
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