Upgrade Alert for Marriott International (MAR)
Marriott International (NYSE:MAR) was upgraded from Equal Weight to Overweight at Morgan Stanley today. The stock closed yesterday at $67.14 on volume of 4.6 million shares, below average daily volume of 5.5 million.
Marriott International has overhead space with shares priced $67.15, or 19.5% below the average consensus analyst price target of $83.43. The stock should run into initial resistance at its 50-day moving average (MA) of $68.82 and subsequent resistance at its 200-day MA of $69.37.
In the past 52 weeks, Marriott International share prices have been bracketed by a low of $56.43 and a high of $81.55 and closed yesterday at $67.15, 19% above that low price. The 200-day and 50-day moving averages have moved 0.23% lower and 0.37% higher over the past week, respectively.
Marriott International, Inc. is a worldwide operator and franchisor of hotels. The Company franchises lodging facilities and vacation timesharing resorts under various brand names. Marriott also provides services to home/condominium owner associations for projects associated with several of its brands.
SmarTrend is tracking the current trend status for Marriott International and will alert subscribers who have MAR in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades Marriott International