UPDATE: Cantor Fitzgerald Initiates Hold, $55 PT on Starwood Hotels & Resorts Worldwide
Cantor Fitzgerald initiates its coverage on Starwood Hotels & Resorts Worldwide (NYSE: HOT) with a Hold rating and a price target of $55 to reflect the company's leverage on global worries.
Cantor Fitzgerald notes, "At present, Starwood is carefully negotiating the double-edged sword of the broad geographic diversity of its lodging portfolio. While hotels in the U.S. continue to recover from the 2009 downturn and emerging markets and Latin America remain strong, headwinds from Europe, Canada, and the Middle East/Africa are likely to temper profit growth in 2012."
HOT closed at $53.90 yesterday.
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