UPDATE - Barclays Initiates Coverage on Orient-Express Hotels (OEH) with an Overweight; Affordable Luxury
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Price: $14.54 --0%
Rating Summary:
3 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Barclays initiates coverage on Orient-Express Hotels Ltd. (NYSE: OEH) with a Overweight. PT $12.00.
Barclays analyst says, "While near-term upside could be limited in the current uncertain economic environment (given the high correlation between lodging demand, RevPAR growth and GDP), we believe Orient-Express is an attractive stock for longer-term investors seeking value. The stock currently trades at 80% its book value, and 53% below our estimated asset value of $18 per share. In addition, the shares are 39% below our price target. We believe these factors offset the risks inherent in the shares, which currently trade at 10.5x 2013E EBITDA, at the low end of the adjusted 10 year historical range of 9.3x to 19.7x."
"We believe Orient-Express is well positioned to grow over the next several years assuming a stable economic backdrop. Since the last downturn, the company has improved its portfolio with acquisitions and dispositions and cut costs, which should benefit profitability. Importantly, balance sheet risk has been greatly reduced."
To see more ratings changes on OEH, Click Here
Barclays analyst says, "While near-term upside could be limited in the current uncertain economic environment (given the high correlation between lodging demand, RevPAR growth and GDP), we believe Orient-Express is an attractive stock for longer-term investors seeking value. The stock currently trades at 80% its book value, and 53% below our estimated asset value of $18 per share. In addition, the shares are 39% below our price target. We believe these factors offset the risks inherent in the shares, which currently trade at 10.5x 2013E EBITDA, at the low end of the adjusted 10 year historical range of 9.3x to 19.7x."
"We believe Orient-Express is well positioned to grow over the next several years assuming a stable economic backdrop. Since the last downturn, the company has improved its portfolio with acquisitions and dispositions and cut costs, which should benefit profitability. Importantly, balance sheet risk has been greatly reduced."
To see more ratings changes on OEH, Click Here
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