Evercore ISI analyst Duane Pfennigwerth upgraded Marriott (MAR) to Outperform from In Line with a $330 price target The analyst is “woefully” underindexed to Lodging Brand compounders and cites a constructive view on travel demand, appreciation for the brand business model, including network effect of large loyalty plans like Bonvoy, and potential for catch-up on fee growth in FY25 for Marriott’s upgrade. The firm also cites free cash flow plus capital return consistency.
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