Marriott price target raised to $235 from $230 at BMO Capital

BMO Capital analyst Ari Klein raised the firm’s price target on Marriott to $235 from $230 and keeps a Market Perform rating on the shares. The company delivered “uneven” Q4 results with multiple moving parts, the analyst tells investors in a research note. Demand remains reasonably healthy and Marriott’s 3%-5% 2024 RevPAR outlook is 100bps above Hilton’s (HLT), though higher expenses weighed on its earnings guidance, which came in light of estimates, the firm added.