UPDATE: Morgan Stanley Upgrades Hilton Worldwide On Waldorf Opportunities
In a report published Wednesday, Morgan Stanley analyst Thomas Allen upgraded the rating on Hilton Worldwide Holdings (NYSE: HLT) from Equal-Weight to Overweight, and raised the price target from $25.00 to $27.00.
In the report, Morgan Stanley noted, “Following comments made by mgmt last earnings around a potential Waldorf ‘plan', we have worked with real estate, hotel and tax experts to understand HLT's opportunities with the property. We believe HLT's mgmt team and financial sponsors are incentivized to create the most value here and hence, could monetize the property for $2-4B. We move OW HLT (from EW) with a $27 PT (up from $25). Note we have no knowledge of any transaction.”
Hilton Worldwide closed on Tuesday at $22.16.
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