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FBR Remains on Sidelines with Starwood (HOT) Post Q2 Earnings

July 26, 2013 7:46 AM EDT Send to a Friend
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Price: $83.21 --0%

Rating Summary:
    21 Buy, 7 Hold, 0 Sell

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    Up: 2 | Down: 0 | New: 11
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FBR Capital bumped its price target on Starwood Hotels & Resorts (NYSE: HOT) from $67 to $68 following Q2 earnings, but maintained a Market Perform rating on FX headwinds and muted Europe/Asia growth.

"While accelerating share buyback activity is a near-term catalyst, we remain concerned about secular growth trends in Asia (notably China/India, which apart from economic softness are also seeing supply growth pressures) and Europe (muted local currency RevPAR growth) as well as a worsening foreign exchange situation which is eventually linked to the overall economic health of the region."

For an analyst ratings summary and ratings history on Starwood Hotels & Resorts click here. For more ratings news on Starwood Hotels & Resorts click here.

Shares of Starwood Hotels & Resorts closed at $66.24 yesterday.

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