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NEW YORK (AP) -- At least three analysts cut their price targets on Marriott International Inc.'s stock on Friday after the hotel operator issued a forecast for next year that fell shy of expectations. The Bethesda, Md.-based hotelier projected profit of $2.10 per share to $2.25 per share next year, while analysts polled by Thomson Financial forecast earnings of $2.30 per share. Analysts generally gave the company's third-quarter report and outlook high marks. They said revenue growth, the pipeline of new projects and group bookings remain robust. Several analysts said the 4.6 percent sell-off of the stock was overdone. Still, analysts from Friedman Billings Ramsey, CIBC World Markets, and Lehman Brothers cut their price targets on Marriott's stock. After the cuts, the new targets are $51, $55 and $53 respectively, compared with the closing price of $42.28 on Thursday. The median price target among analysts surveyed is $55, which is 24.1 percent higher than the stock price.
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