Marriott International (MAR) Price Target Raised To $28
February 12, 2010 9:29 PM
Collins Stewart analyst Bryan Maher maintained his Hold rating for shares of Marriott International, Inc. (NYSE: MAR) and raised his price target from $24 to $28.
The company easily beat 4th quarter 2009 estimates with earnings per share of 32 cents, well above guidance of 20 to 23 cents per share, Collins Stewart's estimate of 22 cents per share and the consensus forecast of 25 cents per share.
Maher cited positive international growth prospects, debt reduction and better than expected timeshare in his upbeat analysis for Marriott International.
Marriott International performed well overall internationally. Performance was particularly good in Asia and the UK, while the Caribbean and Latin America underperformed.
The 52 week trading range for Marriott International is $12.22 to $29.88.
The stock ended the day at $26.84 on Friday.
