Brean Murray Carret & Co. Reiterates a 'Buy' on Home Inns (HMIN); Motel 168 Integration on Track
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Price: $35.71 --0%
Rating Summary:
6 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 20 | New: 18
Rating Summary:
6 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 20 | New: 18
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Brean Murray Carret & Co. reiterates a 'Buy' on Home Inns (NASDAQ: HMIN) price target lowered from $44 to $41.
Brean analyst said, "Mgmt indicated good progress on its Motel 168 integration with initial positive read on its operating metrics in Q1. Mgmt targets to improve its occupancy rate to 75% this year from ~70% in 2011. As a result, we will likely see revenue growth of 8-10% in 2012 with margin improvement as well. With Motel 168 back on its growth trajectory (adding new stores after the integration), we expect to see accelerated growth in 2012-13. Our estimates for EBITDA growth CAGR for HMIN over the next two years are ~33%. With robust growth on earnings, we see significant value to be unlocked from the stock."
For an analyst ratings summary and ratings history on Home Inns click here. For more ratings news on Home Inns click here.
Shares of Home Inns closed at $29.69 yesterday.
Brean analyst said, "Mgmt indicated good progress on its Motel 168 integration with initial positive read on its operating metrics in Q1. Mgmt targets to improve its occupancy rate to 75% this year from ~70% in 2011. As a result, we will likely see revenue growth of 8-10% in 2012 with margin improvement as well. With Motel 168 back on its growth trajectory (adding new stores after the integration), we expect to see accelerated growth in 2012-13. Our estimates for EBITDA growth CAGR for HMIN over the next two years are ~33%. With robust growth on earnings, we see significant value to be unlocked from the stock."
For an analyst ratings summary and ratings history on Home Inns click here. For more ratings news on Home Inns click here.
Shares of Home Inns closed at $29.69 yesterday.
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