Nomura Securities maintains a 'Neutral' on Starwood Hotels (HOT); Q3 Review
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Price: $77.05 --0%
Rating Summary:
10 Buy, 19 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 19 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on Starwood Hotels & Resorts (NYSE: HOT) price target of $53.00
Nomura analyst, Harry Curtis, said, "We have greater confidence that there will not be a recession for 2012 and there is no change in our 6.9% 2012 RevPAR estimate or EPS. Our data surveys and conversations with private hotel owners imply that both U.S. and European RevPAR will be north of 6% in 2012. 6.9% RevPAR growth should translate into 200bp of margin expansion. Our 2012 EPS estimate of $2.49 is above the guidance range of $1.96- $2.25. Over the past six weeks HOT’s stock has increased 18% (S&P 500 +8%). Its 2012E EV/EBITDA multiple has increased to ~10x from 8.5x primarily because of the “Europe relief rally.” We think multiple expansion from here could be a challenge though, so there is no change to our rating."
For more ratings news on Starwood Hotels & Resorts click here and for the rating history of Starwood Hotels & Resorts click here.
Shares of Starwood Hotels & Resorts closed at $52.60 yesterday.
Nomura analyst, Harry Curtis, said, "We have greater confidence that there will not be a recession for 2012 and there is no change in our 6.9% 2012 RevPAR estimate or EPS. Our data surveys and conversations with private hotel owners imply that both U.S. and European RevPAR will be north of 6% in 2012. 6.9% RevPAR growth should translate into 200bp of margin expansion. Our 2012 EPS estimate of $2.49 is above the guidance range of $1.96- $2.25. Over the past six weeks HOT’s stock has increased 18% (S&P 500 +8%). Its 2012E EV/EBITDA multiple has increased to ~10x from 8.5x primarily because of the “Europe relief rally.” We think multiple expansion from here could be a challenge though, so there is no change to our rating."
For more ratings news on Starwood Hotels & Resorts click here and for the rating history of Starwood Hotels & Resorts click here.
Shares of Starwood Hotels & Resorts closed at $52.60 yesterday.
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