Deutsche Bank reiterates its Buy rating on Starwood Hotels HOT and raises its target price by $4 to $62 on solid 4Q upside.
Deutsche Bank says, "Revised Guidance Reflects Euro Caution. Post solid 4Q results
and guidance that reflects caution on the Euro zone and renovation impacts, we are reinforcing
our Buy rating and raising our price target (to $62 from $58) as we continue to view HOT as the
best way to play the domestic recovery in corporate travel. We see brand differentiation and
favorable chain scale segmentation as the primary drivers of outperformance over the near to
medium term, with the international pipeline adding to the longer term story. "
HOT closed at $54.22 a share yesterday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in