Marriott price target raised to $225 from $215 at BofA

BofA analyst Shaun Kelley raised the firm’s price target on Marriott (MAR) to $225 from $215 and keeps a Buy rating on the shares ahead of the company’s upcoming analyst day meeting. BofA expects Marriott to provide a forecast for 2023-2025 for key earnings drivers, including RevPAR, net unit growth, investment spending and capital return, all leading to long-term EBITDA and EPS growth. The firm expects a forecast for RevPAR growth of 2%-5%, which would be “a bit more conservative” than Hyatt’s (H) 3%-7% view, and sees greater than $10 per share in earnings in 2025.