In a report published on Wednesday, Bank of America Merrill Lynch analyst Shaun C. Kelley Upgraded Starwood Hotels & Results HOT from Neutral to Buy and raised the price target from $70 to $84.
In the report, Bank of America Merrill Lynch stated, "We upgrade HOT to Buy given: 1) a solid fundamental positioning, 2) accelerating capital returns and 3) material upside optionality from owned hotel sales."
Starwood Hotels & Results closed Wednesday at $67.81.
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Posted In: Analyst ColorUpgradesAnalyst RatingsBank of America Merrill LynchNYSEShaun C. KelleyStarwood Hotels & Resorts
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