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In a report published Monday, JP Morgan analyst Joseph Greff upgraded Marriott International, Inc.
MAR to Overweight from Neutral, with a $58.00 price target.
According to the report, the upgrade follows a fresh look at MAR's valuation, lodging industry fundamentals/dynamics and company-specific growth characteristics.
“In recent notes, we have written that MAR's P/E and EV/EBITDA valuation multiples were in the realm of fair valuation and have been waiting for the proverbial pullback to get more positive on the name.”
MAR closed Friday at $49.82.
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