Marriott price target raised to $183 from $163 at BMO Capital

BMO Capital analyst Ari Klein raised the firm’s price target on Marriott to $183 from $163 but keeps a Market Perform rating on the shares. The company’s Q4 results were "solid" and its 2023 guidance offered upside across most metrics, the analyst tells investors in a research note, further noting that lodging demand appears to be on solid footing, and China’s travel recovery is showing positive early signs. The firm adds however that given the higher borrowing costs, Marriott’s net unit growth will remain below 2019 levels for some time, while macro concerns add RevPAR risks.