Host Hotels (HST) PT Raised to $23 at BofA Securities, Double Upgraded to Buy

BofA Securities analyst Shaun Kelley raised the price target on Host Hotels (NASDAQ: HST) to $23.00 (from $18.00) while upgrading to a Buy rating (from Underperform)

The analyst comments "We double upgrade Host Hotels & Resorts (ticker HST, $14.1B market cap) to Buy from Underperform. We have been underweight Host for years, but HST has 1) steadily improved capital allocation under current management, 2) markets and geographic exposures should be favorable with overexposure to group/urban and more cost levers in full-service than select service, 4) reopening of 2 Naples properties and compelling valuation relative to the sector overall."

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