UPDATE: MKM Partners Starts Hilton Worldwide (HLT) at Neutral; Better Value in Other Names

December 13, 2013 7:40 AM EST
Get Alerts HLT Hot Sheet
Price: $27.39 --0%

Rating Summary:
    23 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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(Updated - December 13, 2013 11:20 AM EST)

MKM Partners initiated coverage on Hilton Worldwide (NYSE: HLT) with a Neutral rating and price target of $24.00. Analyst Christopher Agnew said he sees better value elsewhere.

"Hilton, the largest lodging company in the world by enterprise value, completed its IPO on the NYSE on 12/12. We are neutral as we believe the risk/reward to be balanced at the current valuation. Our price target is based on a 13.8x multiple on our FY15E EBITDA, one of the highest in the sector. We are bullish on Lodging and believe the sector has at least two years of structural tailwinds that will enable lodging stocks to meaningfully outperform based on accelerating rate growth, flow-through and earnings upside surprise," said Agnew.

For an analyst ratings summary and ratings history on Hilton Worldwide click here. For more ratings news on Hilton Worldwide click here.

Shares of Hilton Worldwide closed at $21.50 yesterday.

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