UPDATE: J.P. Morgan Color On MAR Price Reduction

J.P. Morgan, which lowered its PT on shares of Marriott International, Inc. MAR “We are trimming our RevPAR expectations for MAR following its disclosures late last month in front of our conference that its North American RevPAR growth will fall short of its prior expectations/guidance,” J.P. Morgan writes. “Our 2011 full year North American RevPAR growth goes to 6.0% from 7.1%, and in 2012 we project this to grow 7.0% versus our prior 7.6%. “Our international RevPAR growth expectations are the same as before (7.7% growth in 2011 and 7.6% growth in 2012). Given our (unchanged) assumptions of consistent buybacks (but now at lower share price levels), our new 2011 and 2012 EPS estimates are modestly lower (down $0.04 in 2011 and $0.05 in 2012). MAR will report 1Q11 results on 4/20/11.” Marriott International closed Monday at $24.18.