J.P. Morgan Reaffirming Overweight On Marriott International

J.P. Morgan Chase & Co. is reaffirming its Overweight rating and a $47 price target on shares of Marriott International MAR. In a note to clients, J.P. Morgan writes, "We are reaffirming our Overweight rating on MAR and believe that current levels represent attractive risk/reward in front of accelerating North American RevPAR growth and EPS growth in the back half of 2011. We view MAR as stock that has suffered the most in terms of poor investor sentiment so far in 2011 given weakened investor sentiment in discretionary equities (due to broader macro concerns) as well as company-specific issues (existing holders looking to get out of the stock before the timeshare spin and concerns over why MAR preannounced 1Q11 results). We believe this provides investors with opportunistic entry points at current levels." Shares of MAR lost 86 cents yesterday to close at $36.30, a loss of 2.3%.