UPDATE: ISI Group Downgrades Marriott International to Hold, Raises PT

In a report published Friday, ISI Group downgraded its rating on Marriott International

from Buy to Hold, but slightly raised its price target from $41.00 to $42.00. ISI Group noted, “We are downgrading MAR to Hold from Buy, though our price target ticks up slightly, to $42 (from $41), representing a 9% expected total return. While coming off its most recent highs (-6.4% since Sep. 14th), the stock has had a decent run (+11.2%) since its most recent bottom on July 24th, outperforming the S&P by 200bps.” Marriott International closed on Thursday at $38.94.