Hudson Downgrades Marriott International to Hold (MAR)

Hudson is out with its report today on Marriott International MAR, downgrading MAR from Buy to Hold. In a note to clients, Hudson writes, "While we like the spinout proposal and continue to believe that the lodging sector remains in the early innings of a very healthy recovery, we are nonetheless compelled to downgrade MAR shares to Hold from Buy as the stock has traded very near to our target price and we cannot get to a sufficiently higher price through any reasonable combination of earnings estimates or target multiples. MAR stock has had a great run and it is up over 40% since the middle of last year." Hudson raises its PT on MAR from $43 to $44. At the time of posting, shares of MAR were trading at $41.29, down 0.41% from Tuesday's close.