Jefferies analyst David Katz downgraded Marriott (MAR) to Hold from Buy with a price target of $166, down from $180. Given the looming recession, the upside to earnings and valuation for bellwether lodging stocks is "limited," Katz contends. With his downgrades of Marriott and Hilton (HLT), Wyndham Hotels & Resorts (WH) is the only lodging C-corp he covers with a Buy rating, noted Katz, who continues to favor Host Hotels (HST) and Hersha Hospitality (HT) among lodging REITs.
Published first on TheFly
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