Goldman Sachs Starts Hilton Worldwide (HLT) at Buy

Goldman Sachs initiates coverage on Hilton Worldwide (NYSE: HLT) with a Buy rating and a price target of $68.00.

"We expect +MSD net room growth and low-single-digit RevPAR growth will drive double-digit EPS growth. Our FY19 EBITDA and revenue estimates sit ahead of management’s targets, which we believe will serve as a catalyst to sustain a multiple re-rating. As a result, upside to our price target is primarily driven by fundamentals vs. multiple expansion. At a higher level, HLT ranks second in our stock selection framework with strong scores in expansion, returns, and locations. Importantly, HLT boasts an attractive pipeline which should support growth with rooms under construction alone representing $4.3bn of potential value creation (23% of market cap) by our estimates" analyst Stephen Grambling wrote in a note to clients late Wednesday

For an analyst ratings summary and ratings history on Hilton Worldwide click here. For more ratings news on Hilton Worldwide click here.

Shares of Hilton Worldwide closed at $58.00 yesterday.

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