Marriott price target raised to $255 from $240 at BMO Capital

BMO Capital analyst Ari Klein raised the firm’s price target on Marriott (MAR) to $255 from $240 and keeps a Market Perform rating on the shares as part of a broader research note previewing Q3 results in Lodging. U.S. RevPAR growth moderated from Q2 despite a favorable setup, with September and Q3 RevPAR down 1.3% and up 0.9% respectively, but while the last four weeks has been a bit better at 2.1%, Q4 is likely challenged by tougher calendar comps, recent hurricanes, and the upcoming U.S. elections, the analyst tells investors in a research note. Positively, the U.S. increasingly looks as if it can engineer a soft landing or better – a potential positive for 2025 RevPAR, the firm added.