UPDATE - Nomura Securities Initiates Coverage on Gaylord Entertainment (GET) with a Neutral
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Price: $1.88 --0%
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Nomura Securities initiates coverage on Gaylord Entertainment (NYSE: GET) with a Neutral. PT $35.
Nomura analyst, Harry Curtis, said, "The positives for GET include strong industry fundamentals, as well as rapidly recovering cash flow at GET Opryland in 2011. However, we also identify several challenges ahead for the stock, including lagging RevPAR growth versus peers, supply pressures in key markets, low EBITDA growth rate, risks to GET’s newest Colorado development and ROIC and financial leverage weaker than industry peers’. GET trades at a valuation of 11x forward CCF, a discount to its peers, which we think is fair given its slower growth prospects and lower financial returns."
Nomura analyst, Harry Curtis, said, "The positives for GET include strong industry fundamentals, as well as rapidly recovering cash flow at GET Opryland in 2011. However, we also identify several challenges ahead for the stock, including lagging RevPAR growth versus peers, supply pressures in key markets, low EBITDA growth rate, risks to GET’s newest Colorado development and ROIC and financial leverage weaker than industry peers’. GET trades at a valuation of 11x forward CCF, a discount to its peers, which we think is fair given its slower growth prospects and lower financial returns."
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