Marriott: Jefferies upgrades stock
(CercleFinance.com) - Jefferies has upgraded its rating on the Marriott International share from "hold" to "buy," having raised its target price from 88 dollars to 125 dollars, in a note on the hotel chain and its peer Hilton Worldwide, which it has also upgraded to "buy".
"Given the strength of the overall market we expect increased focus on quality companies, enduring models and superb management teams that have lagged," the broker says in its research note.
Jefferies considers Marriott and Hilton to be "among the most prominent in our coverage by this measure," with the broker therefore upgrading both stocks, specifying that "We make these changes with a longer-term view than most of our other ratings".
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