These Analysts Cut Their Forecasts On Marriott After Q2 Results
Portfolio Pulse from Avi Kapoor
Marriott International (NASDAQ: MAR) reported weaker-than-expected Q2 revenue, leading to a 4.7% drop in its share price. Despite beating EPS estimates, the company missed revenue forecasts and provided lower-than-expected guidance for Q3 and full-year 2024. Analysts from Baird, Wells Fargo, Barclays, and Deutsche Bank have subsequently lowered their price targets for Marriott.
August 01, 2024 | 6:01 pm
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Marriott International reported weaker-than-expected Q2 revenue, leading to a 4.7% drop in its share price. Despite beating EPS estimates, the company missed revenue forecasts and provided lower-than-expected guidance for Q3 and full-year 2024. Analysts from Baird, Wells Fargo, Barclays, and Deutsche Bank have subsequently lowered their price targets for Marriott.
Marriott's Q2 revenue miss and lower-than-expected guidance for Q3 and full-year 2024 have led to a negative market reaction, with the stock dropping 4.7%. Analysts have also lowered their price targets, indicating a bearish short-term outlook.
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