On Friday, BofA Securities reaffirmed its Buy rating on Marriott International (NASDAQ: NASDAQ:MAR) stock, with a price target of $275.00. The endorsement follows recent investor meetings with Marriott’s President and CEO Tony Capuano and SVP of Investor Relations Jackie McConagha. The discussions focused on the sustainability of demand and the environment for net room growth and conversions.
The firm expressed continued confidence in Marriott's leadership and its business model, which is described as compounding and algorithmic, with a significant competitive edge. The strength and diversity of Marriott's business operations were highlighted as key factors supporting the positive outlook.
During the meetings, the management team's ability to drive the company's growth and maintain its market position was a central theme. BofA Securities conveyed strong support for the strategic direction Marriott is taking under its current leadership.
The reiterated price target of $275.00 reflects BofA Securities' unwavering view of Marriott's potential in the market. The firm's stance indicates a belief in the hotel giant’s ability to sustain growth and continue to thrive in the competitive hospitality industry.
Marriott International's stock performance will continue to be watched by investors as the company progresses with its strategic initiatives and capitalizes on market opportunities, backed by the confidence of BofA Securities' latest rating and price target affirmation.
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