Citi Downgrades Starwood Hotels & Resorts (HOT), Host Hotels (HST), and Sunstone Hotel (SHO) to Hold
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More News related to SHO
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Citi downgrades Starwood Hotels & Resorts (NYSE: HOT), Host Hotels (NYSE: HST), and Sunstone Hotel (NYSE: SHO) from Buy to Hold.
Citi analyst says, "We see significant risk to ’09 Street estimates, which may prevent shrs from working, despite what we view as an attractive valuation (9.5x ‘09E EBITDA) and biz model (50% fee-based earnings). Conclusion — Economic softness is likely to be a headwind for lodging cos. thru 2009. We recommend 2 stocks for long-term, value-oriented investors: (1) Marriott: attractive valuation and low relative EPS risk (we’re 9% below cons. vs. 20% for HOT), (2) Gaylord: defensive biz model and possibility of a strategic action."
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