Marriott initiated with a Neutral at Mizuho

Mizuho analyst Ben Chaiken initiated coverage of Marriott with a Neutral rating and $263 price target. The analyst believes Marriott’s current consumer cohort exposure is unfavorable relative to peers, as leisure is likely to underperform compared to group and business transient. Relative to peers, the firm sees lower unit growth, which could weigh on the stock’s valuation.