UPDATE: Cantor Fitzgerald Upgrades Host Hotels & Resorts to Buy on Valuation

Cantor Fitzgerald raised its rating on Host Hotels & Resorts (NYSE: HPT) from Hold to Buy with a reiterated $16

Cantor Fitzgerald noted, "We've believed for some time that Host has a great management team and portfolio of assets. The challenge we've had since we initiated coverage earlier this year is one of valuation. With the recent pullback in the shares, we find the current upside potential attractive enough to warrant the upgrade to BUY."

Host Hotels & Resorts closed at $14.68 on Tuesday.

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