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In a note dated November 11, Credit Suisse analyst Ian Weissman initiated coverage of Sunstone Hotels Investors Inc (NYSE: SHO) with an Outperform rating and a $17 price target.
Weissman commented, "With job growth accelerating, and business sentiment improving, group business is finally starting rebound. We anticipate group to continue to post solid results."
Weissman also noted the stock is currently trading at a 12 percent discount to his NAV estimate of $17.50 and below the average 2015 EBITDA multiple of its peer group.
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