Goldman Sachs Reiterates a 'Conviction-List Buy' on Home Inns (HMIN); Fragmented Supply Favors Expansion
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Price: $30.33 -0.66%
Rating Summary:
5 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
5 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade HMIN Now!
Goldman Sachs reiterates a 'Conviction-List Buy' on Home Inns (NASDAQ: HMIN) price target of $30.00.
Analyst, Justin Kwok, said, "HMIN announced the completion of the acquisition of a 100% interest in a regional economy hotel chain, eJia Express, for Rmb 60mn on July 1...We think M&A should benefit national chains, as it could (1) potentially be faster and cheaper than converting existing sites; (2) provide the ability to access better locations within cities."
Kwok's other catalysts for HMIN include: 1) Further consolidation; 2) Access to strategic locations; and 3) Potentially cheaper overall deal (less acquisition and rebranding costs)
For an analyst ratings summary and ratings history on Home Inns click here. For more ratings news on Home Inns click here.
Shares of Home Inns closed at $20.62 yesterday, with a 52 week range of $19.86-$41.13.
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Analyst, Justin Kwok, said, "HMIN announced the completion of the acquisition of a 100% interest in a regional economy hotel chain, eJia Express, for Rmb 60mn on July 1...We think M&A should benefit national chains, as it could (1) potentially be faster and cheaper than converting existing sites; (2) provide the ability to access better locations within cities."
Kwok's other catalysts for HMIN include: 1) Further consolidation; 2) Access to strategic locations; and 3) Potentially cheaper overall deal (less acquisition and rebranding costs)
For an analyst ratings summary and ratings history on Home Inns click here. For more ratings news on Home Inns click here.
Shares of Home Inns closed at $20.62 yesterday, with a 52 week range of $19.86-$41.13.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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