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In a report published Wednesday, Nomura analyst Harry C. Curtis commented on
Starwood Hotels & Resorts Worldwide IncHOT management changes which saw the resignation of CEO Frits D. van Paasschen and the appointment of Adam Aron as an interim replacement.
Curtis noted that he held an "encouraging conversation" with Aron and the company's Chief Financial Officer Tom Mangas about "fixing" the company's problems.
Curtis concluded from his conversation that Aron intends to create value through a continuation and acceleration of selling assets and returning capital to shareholders while focusing on improving the company's operating margins. The analyst also noted that these initiatives are "at the top of new management's list."
Shares are Buy rated with a $95 price target.
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