Marriott International Adds More Than 2%


Marriott International is up more than 2% after Goldman Sachs upgraded the shares to conviction buy from buy and raised its price target to $102 from $87.

Goldman said Marriott is the best positioned in its lodging universe. The company also is well-positioned to benefit from a rebound in corporate profits and travel, it said. Marriott has multiple avenues to drive growth, including revenue and cost synergies from the Starwood integration,upside from a consolidated loyalty program and subsequent credit card partner program renegotiations, and a robust pipeline of new hotels equating to roughly mid single-digit net unit growth, Goldman said.