UPDATE: JP Morgan Upgrades Marriott International on Growth Potential

In a report published Monday, JP Morgan analyst Joseph Greff upgraded Marriott International, Inc. (NASDAQ: MAR) to Overweight from Neutral, with a $58.00 price target.

According to the report, the upgrade follows a fresh look at MAR's valuation, lodging industry fundamentals/dynamics and company-specific growth characteristics.

“In recent notes, we have written that MAR's P/E and EV/EBITDA valuation multiples were in the realm of fair valuation and have been waiting for the proverbial pullback to get more positive on the name.”

MAR closed Friday at $49.82.