Marriott downgraded to In Line at Evercore after 22% year-to-date rally

As previously reported, Evercore ISI analyst Duane Pfennigwerth downgraded Marriott to In Line from Outperform with an unchanged price target of $180. While stating that Marriott reported "solid" Q4 adjusted EPS and guided to FY23 EPS in a range about in-line with consensus at midpoint, the firm is moving to the sidelines with the stock having run through its $180 price target as the shares are up 22% year-to-date and up 32% since the analyst’s assumption of coverage last July.