Credit Suisse Reiterates Outperform, Raises PT On Marriott International Following Bethesda Meetings

In a report published Friday, Credit Suisse analyst Joel Simkins reiterated an Outperform rating on Marriott International Inc. (NASDAQ: MAR), and raised the price target from $91.00 to $93.00.

In the report, Credit Suisse noted, "We maintain our positive view on Focus List rated MAR. Our $93 TP (+$2) is based on a 15x multiple of our 2016E EBITDA, discounted back. Re-rated shares reflecting the company's asset light model and unwavering commitment to return capital should continue to be appreciated by a diverse investor base. While some will continue to question what inning the cycle is in, we don't see the sector being undone by its own doing."

Marriott International closed on Thursday at $82.44.