Nomura Securities Maintains a 'Neutral' on Wyndham Worldwide (WYN); Raising PT and Estimates
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Price: $51.75 --0%
Rating Summary:
7 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
7 Buy, 7 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 Wyndham Worldwide (NYSE: WYN) price target raised from $48 to $52.
Analyst, Harry Curtis, said, "WYN’s 1Q share repurchase was supported by upside in its core lodging (WHG) and timeshare (WVO) units. Gains in WHG appear sustainable, but we expect the drivers of WVO outperformance to moderate over the balance of the year. WYN continues to throw off cash, ~$160m a quarter, and YTD has repurchased 4.5m shares for $190m. Our 2012 EBITDA estimate increases to $1,055m from $1,034m and our 2013E EBITDA estimate is unchanged...WYN’s forward P/E multiple has already risen from 11x in 3Q last year to over 15x, nearing an all-time high. WYN should be able to maintain its multiple given our expectation, that industry fundamentals remain positive."
For an analyst ratings summary and ratings history on Wyndham Worldwide click here. For more ratings news on Wyndham Worldwide click here.
Shares of Wyndham Worldwide closed at $48.97 yesterday.
Analyst, Harry Curtis, said, "WYN’s 1Q share repurchase was supported by upside in its core lodging (WHG) and timeshare (WVO) units. Gains in WHG appear sustainable, but we expect the drivers of WVO outperformance to moderate over the balance of the year. WYN continues to throw off cash, ~$160m a quarter, and YTD has repurchased 4.5m shares for $190m. Our 2012 EBITDA estimate increases to $1,055m from $1,034m and our 2013E EBITDA estimate is unchanged...WYN’s forward P/E multiple has already risen from 11x in 3Q last year to over 15x, nearing an all-time high. WYN should be able to maintain its multiple given our expectation, that industry fundamentals remain positive."
For an analyst ratings summary and ratings history on Wyndham Worldwide click here. For more ratings news on Wyndham Worldwide click here.
Shares of Wyndham Worldwide closed at $48.97 yesterday.
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