MKM Partners Upgrades Starwood Hotels & Resorts (HOT) to Buy; Attractive Risk/Reward; Catalysts Ahead
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Price: $77.05 --0%
Rating Summary:
10 Buy, 19 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
10 Buy, 19 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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MKM Partners upgraded Starwood Hotels & Resorts (NYSE: HOT) from Neutral to Buy with a price target of $65.00 (from $60.00).
Analyst, Chris Agnew, said, "HOT has pulled back more than 10% over the past several days and has underperformed the lodging sector and the S&P 500 over the last 3, 6 and 12 months. We believe the weakness is overdone from a fundamental perspective...We expect 2Q earnings on July 26, to be solid based on RevPAR trends and HOT’s track record. Marriott International (NYSE: MAR)(Buy $45 PT) 2Q12 earnings have also now lowered expectations...We see a potential catalyst with share buyback activity accelerating in 2H12; HOT is now investment grade and we could get an announcement with 2Q results."
Q2 raised from $0.60 to $0.61.
For an analyst ratings summary and ratings history on Starwood Hotels & Resorts click here. For more ratings news on Starwood Hotels & Resorts click here.
Shares of Starwood Hotels & Resorts closed at $50.62 yesterday.
Analyst, Chris Agnew, said, "HOT has pulled back more than 10% over the past several days and has underperformed the lodging sector and the S&P 500 over the last 3, 6 and 12 months. We believe the weakness is overdone from a fundamental perspective...We expect 2Q earnings on July 26, to be solid based on RevPAR trends and HOT’s track record. Marriott International (NYSE: MAR)(Buy $45 PT) 2Q12 earnings have also now lowered expectations...We see a potential catalyst with share buyback activity accelerating in 2H12; HOT is now investment grade and we could get an announcement with 2Q results."
Q2 raised from $0.60 to $0.61.
For an analyst ratings summary and ratings history on Starwood Hotels & Resorts click here. For more ratings news on Starwood Hotels & Resorts click here.
Shares of Starwood Hotels & Resorts closed at $50.62 yesterday.
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