Marriott's Growth Strategy: Morgan Stanley Foresees Upside Amid Recent Market Jitters
Portfolio Pulse from Shivani Kumaresan
Morgan Stanley analyst Stephen W Grambling has reiterated an Overweight rating on Marriott International Inc (NASDAQ:MAR) with a price target of $225. The company is set to host its first investor day in over four years on September 27. The analyst anticipates a similar structure to previous events, with added details on recent brand launches, partnerships, and technology investments. The company is expected to deliver an 11% 2019-2023 EPS CAGR on +2% RevPAR and +7% EBITDA. The recent sell-off leaves MAR trading at 19x the analyst's 2024 EPS, below the long-term average of ~21.5X.
September 26, 2023 | 7:10 pm
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Morgan Stanley analyst has reiterated an Overweight rating on Marriott International Inc with a price target of $225. The company is expected to deliver an 11% 2019-2023 EPS CAGR. The recent sell-off leaves MAR trading at 19x the analyst's 2024 EPS, below the long-term average.
The analyst's Overweight rating and the price target of $225 indicate a positive outlook for Marriott International Inc. The company's expected 11% 2019-2023 EPS CAGR and the recent sell-off leaving MAR trading below the long-term average suggest potential upside in the short term.
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