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Here are the biggest calls on Wall Street on Friday:
Jefferies upgraded the hotel chain and said Marriott was a "quality" company with a "superb" management team and that the stock should outperform once the "new normal" operating environment returns.
"MAR is lagging the S&P 500 by nearly 40% YTD and HLT by 25%, while both are anchored by proven management teams and business models which we have confidence will recover. We apply higher than average - but not peak - valuation multiples for HLT and MAR which drives our updated price targets of $101 and $125, respectively. We believe the key catalysts for outperformance are primarily the resumption of capital returns as a new normal operating environment returns."
Oppenheimer upgraded the China music streaming service and said investors are overlooking the company's solid core music business.
"We value Music Services at 8x '22E revenue, and Social Entertainment at 10x '22E EBITDA. We expect strong sub growth to continue in 2H and potentially accelerate on ad-supported services. We estimate long-form audio could generate 3%/7% incremental core music revenue in '21E/'22E. TME Live is transforming the multi-billion-dollar concert industry with significant monetization opportunities."