BofA/Merrill Lynch Downgrades Starwood Hotels & Resorts (HOT) to Neutral

BofA/Merrill Lynch downgraded Starwood Hotels & Resorts (NYSE: HOT) from Buy to Neutral with a price target of $80.00 (from $85.00).

Analyst Shaun Kelley said the company is challenged by 1) strong U.S. dollar, 2) slowing growth in Europe/China, 3) a lack of unit growth, with limited service hotels in the U.S.

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 $73.14 yesterday.

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