After Marriott International (MAR) and MGM Resorts International (MGM) announced an exclusive long-term strategic licensing agreement and the creation of MGM Collection with Marriott Bonvoy, Baird analyst Michael Bellisario called the agreement “incrementally positive” for Marriott and a boost to 2023 net unit growth and its longer-term earnings outlook. Baird keeps a Neutral rating and $198 price target on Marriott shares.
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