In a remarkable display of resilience and growth, Marriott International (NASDAQ:MAR)'s stock has reached an all-time high, touching $290.88. With a market capitalization of $80.5 billion and an impressive gross profit margin of 82%, InvestingPro analysis indicates the stock is trading above its Fair Value. This milestone underscores the company's robust recovery trajectory and investor confidence in the hospitality giant's strategy and market position. Over the past year, Marriott has seen its stock value surge by an impressive 41.43%, with a year-to-date return of 29.71%. The company maintains a GREAT financial health score according to InvestingPro, which offers 15+ additional insights and a comprehensive Pro Research Report for deeper analysis. This significant performance reflects a bullish outlook for the company as it continues to expand its global footprint and capitalize on the resurgence of global travel.
In other recent news, Marriott International has been the subject of several financial adjustments and projections. Truist Securities raised its price target for Marriott to $277, maintaining a Hold rating. The revised target is based on an increased multiple applied to the company's projected 2025 EBITDA, with the firm also adjusting their earnings per share (EPS) projections for 2024 and 2025.
Simultaneously, BofA Securities increased Marriott's price target to $300, also maintaining a Neutral rating. This adjustment followed a review of Marriott's third-quarter 2024 results and revised operating assumptions. The firm also adjusted their EPS projections for the fiscal years 2024 and 2025.
TD Cowen kept its Buy rating on Marriott but reduced the stock's price target from $295.00 to $283.00. The firm's 2025 EBITDA projection was slightly raised, while the EPS estimate was marginally lowered.
BMO Capital Markets raised Marriott's price target from $255.00 to $265.00, maintaining a Market Perform rating. BMO highlighted Marriott's cost-saving initiatives aimed at 2025, which are expected to balance lower fee growth projections.
Lastly, Mizuho (NYSE:MFG) Securities increased Marriott's price target to $246.00, maintaining a Neutral rating. The firm expects an improvement in fee growth in 2025 as MGM's room contributions increase. These are the recent developments in Marriott's financial landscape.
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