Hotel/resort operator Marriott International, Inc. (MAR) on Friday received downgrades from two major Wall Street firms.
Lazard cut its rating on MAR from “Buy” to “Neutral,” citing weaker revenue per available room (RevPAR) growth. The firm also cut its earnings estimates accordingly.
Meanwhile, UBS also lowered its rating on MAR from “Buy” to “Neutral” on a valuation call. The firm currently has a $42 price target set on MAR, which suggests an 8% upside to the stock’s Thursday closing price of $38.94. UBS noted it remains positive on a lodging sector recovery, but just doesn’t see much near-term upside for MAR.
Marriott shares fell 44 cents, or -1.1%, in premarket trading Friday.
The Bottom Line
Shares of Marriott International (MAR) have a 1.34% dividend yield, based on last night’s closing stock price of $38.94. The stock has technical support in the $36-$38 price area. If the shares can firm up, we see overhead resistance around the $42-$45 price levels.
Marriott International, Inc. (MAR) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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