Marriott price target raised to $245 from $210 at Evercore ISI

Evercore ISI raised the firm’s price target on Marriott to $245 from $210 and keeps an In Line rating on the shares. The firm generally expects upside to existing guidance on upcoming Q4 earnings calls among the asset-light hotel brands, but believes meaningful returns from here rests more on continued multiple expansion as the group transitions from a “global reopen surge to more normalized/synchronized growth,” the analyst tells investors in a group preview note.