UBS Sweeps, Citi Boosts Marriott Target by 23%

The busiest analyst session of the week delivered a flurry of target price moves. Marriott International drew the sharpest revision. Citigroup's Nick Joseph lifted the target by $85 to $450, a 23% increase, while maintaining a Hold. That is a wide gap between conviction and valuation.

Coherent Corp got a cleaner upgrade in substance. Citi raised the target on the photonics and laser maker to $440 from $420, keeping a Buy. The stock sits at a consensus skewed heavily bullish, with 21 analysts rated Buy.

UBS dominated the morning's action with a sweep across five names. The bank's most striking move was at Veeva Systems, where Karl Keirstead raised the target to $325 from $290, a 12% jump, with a Hold rating still in place. That cautious-but-bullish framing reflects Veeva's premium valuation in a tighter software market.

American Water Works was the session's notable downgrade. UBS cut the utility to Hold from Buy, citing a target lift to $162. The upgrade of the number alongside a rating cut signals a view that the stock has simply run up too far.

Airbnb also caught a large target lift. JP Morgan's Doug Anmuth raised to $202 from $170, a 19% move, keeping a Hold. With 25 analysts rated Sell, the stock remains one of the more contested travel names on the Street.