Jefferies Cuts Price Target On Sunstone Hotel (SHO)

Jefferies lowered its price target on Hold-rated Sunstone Hotel Investors (NYSE: SHO) from $7 to $6 to reflect our view on a more uncertain RevPAR environment.

The firm states, "Overall, we believe SHO's portfolio is less urban and high end and thus should grow more slowly even in a deteriorating RevPAR environment. We believe that SHO has clearer overall corporate strategy and an enhanced portfolio but unfortunately in the current environment that does not appear to be relevant.

For more ratings news on Sunstone Hotel Investors click here and for the rating history of Sunstone Hotel Investors click here.

Shares of Sunstone Hotel Investors closed at $5.93 yesterday.

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