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UPDATE: JP Morgan Cuts PT to $38 on Home Inns & Hotels Management Following Cautious Guidance

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JP Morgan maintained Home Inns & Hotels Management (NASDAQ: HMIN) with an Overweight rating and lowered the price target from $40.00 to $38.00.

JP Morgan analyst Kenneth Fong commented, "We continue to like HMIN on the back of 1) a higher contribution from Motel 168 as integration is completed, 2) FCF turning positive, 3) gradually recovering macro that drives demand, with 4) low expectations that leave room for surprise. In the near term, HMIN may trade weakly on the soft guidance and 1Q operating trend, but we advise investors to add on dips to position for a better 2Q. We trim our Dec-13 PT to $38 on a more conservative growth assumption but stay OW."

Home Inns & Hotels Management closed at $30.25 on Monday.

Latest Ratings for HMIN

DateFirmActionFromTo
Mar 2016DowngradesBuyHold
May 2015MaintainsBuy
Mar 2015DowngradesOutperformUnderperform

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Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings

 

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