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Morgan Stanley Pair Trade: Upgrades Hilton, Downgrades Marriott

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Morgan Stanley on Wednesday called a pair trade, upgrading Hilton Worldwide (NYSE: HLT) to Overweight and increased its price target to $27; Marriott International(NASDAQ: MAR) was downgraded, with a price target at $64 per share.

In the report, analyst Thomas Allen states that the industry as a whole is attractive, and that Marriott "has outperformed other US Lodging stocks by 14% YTD. While we still see it as one of the cleanest long-term growth stories in Lodging, we move to Equal-weight as we see a more balanced risk-reward in the near-term at these levels.”

Additionally, Allen stated, “A combination of strong fundamentals and a deep dive into the strategic value of the Waldorf Astoria lead us to upgrade HLT to Overweight and increase our price target to $27 (22% upside).”

Shares of Hilton are up $0.50 or 2.26 percent to $22.66 per share. Shares of Marriott are up $0.11 or 0.19 percent to $58.11 per share.

Latest Ratings for HLT

DateFirmActionFromTo
Jan 2017BernsteinUpgradesMarket PerformOutperform
Jan 2017Goldman SachsInitiates Coverage OnBuy
Dec 2016Bank of AmericaUpgradesNeutralBuy

View More Analyst Ratings for HLT
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Thomas AllenAnalyst Color Upgrades Downgrades Analyst Ratings

 

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