Marriott removed from ‘fresh pick’ list at Baird
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Baird analyst Michael Bellisario issued a more cautious review of Marriott (NASDAQ:MAR) into the third quarter as business travel slows.

âWe view risk/reward as less attractive today, especially given growing macroeconomic uncertainties, a negative business travel data point from Southwest Airlines, and increasing borrowing costs and the 1% excise tax on share repurchases that impact EPS accretion in the out-years,â he told clients. 

The growing caution caused Bellisario to remove the stock as a âBullish Fresh Pickâ, adding that recent outperformance versus the S&P since mid-July, when the designation was first made, has skewed the risk/reward dynamics. Shares of Marriott (MAR) slid 4.98% on Friday amid a broader market selloff.
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