Marriott price target raised to $225 from $175 at Citi

Citi raised the firm’s price target on Marriott to $225 from $175 and keeps a Neutral rating on the shares. The firm is updating its forecasts for the company based on its Q2 results and refreshed operating assumptions, the analyst tells investors in a research note, also noting that its assumed 16-times expected EBITDA multiple is in line with current valuation levels. Marriott should continue to trade at the higher end of its historic valuation levels given an improving economic outlook relative to initial expectations, Citi added.