Goldman Sachs Reiterates Neutral Rating On HMIN

In a recent report, Goldman Sachs has reiterated a Neutral rating on Home Inns & Hotel Management

after the company falls below expectations in 1Q. In the report, Goldman Sachs said, "While valuation is undemanding at 11.4x 2011E EV/EBITDA with a 21% EBITDA CAGR over 2010- 2013E, we see uncertainties on pricing and timing of potential M&A as a share price overhang in the near term. We maintain our Neutral rating." HMIN closed yesterday at $40.34.