Wells Fargo Upgrades Host Hotels (HST) to Outperform

Wells Fargo upgraded Host Hotels (NYSE: HST) from Market Perform to Outperform and raised its valuaiton range form $16-$17 to $18-$19.

The firm notes that given the higher implied cap rate, greater anticipated earnings growth in 2013, and stock underperformance in 2012 for the lodging sector as compared to its real estate peers, we expect hotels to outperform the RMZ this year. Beyond the macro view, the firm notes Host Hotels faces limited renovation disruption, an acceleration in group demand that should bolster pricing power and limited supply growth in their core markets.

For an analyst ratings summary and ratings history on Host Hotels click here. For more ratings news on Host Hotels click here.

Shares of Host Hotels closed at $16.78 yesterday.

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