Why Marriott International Stock Inched Higher Today
Storied hotelier Marriott International (NASDAQ: MAR) had an up day on the stock market to kick off the trading week. The company's share price improved by nearly 1% thanks in no small part to an analyst's price-target hike. That rise was more or less in line with the S 500 index's increase on the day.
The hiking party was none other than Wells Fargo (NYSE: WFC), one of this country's "Big Four" banks, in the person of analyst Jeffrey Donnelly. He added $10 per share to his price target on Marriott shares; he now believes they are worth $222 apiece. He is maintaining his overweight (read:buy) recommendation on the stock.
The reasoning behind Donnelly's move wasn't immediately apparent. It did come less than a week after Marriott released its latest set of quarterly results, notching solid beats on both the top and bottom lines.
Source Fool.com
Marriott International Inc. Aktie
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