UPDATE: Cantor Fitzgerald Initiates Hold, $15 PT on Host Hotels & Resorts

Cantor Fitzgerald initiates its coverage on Host Hotels & Resorts HST with a Hold rating and a $15 price target as it believes the company's great assets are priced accordingly. Cantor Fitzgerald says, "Host is a solid company with a great portfolio of lodging assets. Unfortunately, in our view, this is fully reflected in the current stock price, and we see limited upside in the shares without a meaningful increase in earnings expectations or significant expansion of multiples." HST closed at $15.79 a share on Wednesday.