Citi Reiterates Buy Rating and $40 PT on Marriott International

A research report from Citi states that it maintains its Buy rating and $40 price target on Marriott International MAR. In the report Citi writes, “Marriott's F3Q results were above our and Street expectations. The beat was driven by a combination of stronger REVPAR, lower interest, lower taxes and more aggressive share repurchase.” MAR closed yesterday at $28.18.