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. Stock
Marriott International Inc. is currently one of the favorites of our community with 6 Buy predictions and no Sell predictions.
With a current price of 217.8 € Marriott International Inc. is right around the predicted target price of 219 €.
