Marriott price target raised to $285 from $262 at Wells Fargo

Wells Fargo analyst Daniel Politzer raised the firm’s price target on Marriott (MAR) to $285 from $262 and keeps an Equal Weight rating on the shares. Discussing the lodging space, the firm says that for Q4, it expects EBITDA beats across the board. FY25 guides likely reflect conservative RevPAR forecasts given elevated uncertainty, with solid unit growth bolstered by partnerships/conversions, Wells adds.