UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Marriott International Following Analyst Day

In a report published Tuesday, Credit Suisse analyst Joel Simkins reiterated an Outperform rating on

, and raised the price target from $74.00 to $80.00. In the report, Credit Suisse noted, “Marriott's first analyst day since 2012 (China) was positive and well-attended. Management reiterated a number of long-term themes including capital return, brand diversification and strength, the state of its development pipeline and owner/franchisee relationships, technology initiatives, and other topics. We also found this a good opportunity for MAR to showcase its management team and welcomed the opportunity to meet with its executives. We have raised our estimates and TP in light of the company's encouraging long-term outlook.” Marriott International closed on Monday at $71.07.