Marriott downgraded on valuation, lackluster hotel bookings

Marriott downgraded on valuation, lackluster hotel bookings
Marriott downgraded on valuation, lackluster hotel bookings

SunTrust Robinson Humphrey lowered its rating for Marriott to hold from buy, saying the company's earnings results will come in below expectations this year.

"Material upside assumes a big leap of faith from here … The real challenge we have in continuing to recommend the stock is we believe it has already priced-in an optimistic best-case scenario," analyst C. Patrick Scholes wrote in a note to clients Tuesday. "We attach a low likelihood of the 2018 'best case scenario' being achieved."

CNBC

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