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☆ A weak economy will test consumers' wanderlust, but these stocks could prove resilient in 2023
▼ + stars: | 2022-12-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +8 min

The U.S. Travel Association anticipates domestic leisure travel demand will hold up, although growth may be a bit slower in 2023. The stock has an average analyst rating of buy and 47% upside to the average price target, according to FactSet. Marriott has an average analyst rating of overweight and 13.5% upside to the average analyst price target, per FactSet. Norwegian has an average analyst rating of overweight and nearly 27% upside to the average analyst price target, while Royal Caribbean has an average analyst rating of overweight and about 24% upside to its average price target. However, Carnival has an average analyst rating of hold and 24% upside to the average price target.

☆ Here are Wednesday's biggest analyst calls: Tesla, Apple, Amazon, Exxon Mobil, Nike, Best Buy & more
▼ + stars: | 2022-12-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Morgan Stanley names Exxon Mobil a top 2023 pick Morgan Stanley said Exxon Mobil is one of the best-positioned stocks heading into 2023. Morgan Stanley reiterates Apple as overweight Morgan Stanley said concerns about App Store competition are overdone. Bank of America downgrades Best Buy to underperform from neutral Bank of America said the environment is too challenging right now for Best Buy. Bank of America reiterates Nike as neutral Bank of America said it's cautious going into Nike earnings next week. Bank of America reiterates Alphabet as buy Bank of America said it's sticking with its buy rating on Alphabet but that investors need to hear more about the Google parent's cost-cutting initiatives.

☆ Marriot shares slide on delayed opening of some properties in China
▼ + stars: | 2022-11-03 | by ( Priyamvada C | ) www.reuters.com time to read: +2 min

"The market in China is most certainly where we're seeing the most challenges," Chief Executive Anthony Capuano said during an analyst call. Revenue per available room (RevPAR) from Greater China was $64.06 in 2021 company-wide, behind U.S. & Canada and Middle East & Africa. "Looking forward we expect that the recession will mute, but not derail, growth in the U.S. hotel industry. Marriott now expects 2022 adjusted profit per share of between $6.51 and $6.58, compared with its previous forecast of $6.33 to $6.59 per share. Adjusted profit per share was $1.69, one cent above expectations.

☆ Marriott joins Hilton in lifting profit forecast on unabated travel demand
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - Marriott International Inc (MAR.O) joined its rival Hilton in raising its annual profit forecast on Thursday, aided by higher pricing and a strong rebound in leisure and business travel even as recession risks cloud consumer spending. Marriott, which owns hotels like Sheraton, Westin and St. Regis, expects adjusted profit per share of between $6.51 and $6.58 this year, compared with its previous forecast of $6.33 to $6.59 per share. Pent-up desire to travel bolstered by a more powerful U.S. dollar and flexible work arrangements have emboldened consumers and extended the travel season into the fall. Last week, Hilton (HLT.N) also bumped its annual profit forecast. Reporting by Priyamvada C in Bengaluru; Editing by Saumyadeb Chakrabarty and Milla NissiOur Standards: The Thomson Reuters Trust Principles.

SummarySummary Companies Q3 RevPar up 14% from same period in 2019Average pricing in Q3 was 23% above 2019 levelDemand in Asia will "correct itself"Oct 26 (Reuters) - Europe's biggest hotel group Accor (ACCP.PA) reported higher than expected third-quarter revenue per available room (RevPAR) on Wednesday, continuing a sharp improvement in activity since the start of the year after a "gorgeous" summer season. U.S. tourists travelling to Europe took advantage of the dollar's strength against the euro and other currencies, Chief Financial Officer Jean-Jacques Morin said on a call with journalists. Accor's average pricing in the third quarter has been 23% above 2019 levels, the CFO said, adding the capability to earn more fees through inflation needed to be accounted for. However, the situation in Asia will "correct itself", with recovery in China and Southeast Asian countries next year possibly making a difference to the group's performance, Morin added. ($1 = 0.9930 euros)Reporting by Diana Mandia and Dina Kartit; Editing by David Holmes, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

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