Marriott price target raised to $280 from $270 at Argus

Argus raised the firm’s price target on Marriott to $280 from $270 and keeps a Buy rating on the shares. The company’s profitable fee-based business, strong liquidity, and emphasis on corporate travel positions it well for earnings growth in 2024, the analyst tells investors in a research note. Marriott’s global operating model, in which it is able to expand room capacity anywhere in the world, is also a strong positive, the firm added, boosting its FY24 EPS view for the stock to $9.74 from $9.72 while setting FY25 estimate of $10.90.