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In a report published Monday, Morgan Stanley analyst Thomas Allen reiterated an Overweight rating on
Starwood Hotels & Resorts WorldwideHOT, and raised the price target from $86.00 to $92.00.
In the report, Morgan Stanley noted, “HOT's CFO left on May 30 after 10 years with the company. As the Board searches for a successor, we highlight the potential value creation from a leverage recap. With the confidence this should play out, we increase our PT to $92, reiterate Overweight rating.”
Starwood Hotels & Resorts Worldwide closed on Friday at $82.79.
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