Canaccord Genuity Reaffirms Starwood Hotels (NYSE:HOT) As a Buy; They Now Have a Price Target Of $81


Starwood Hotels (NYSE:HOT) Rating Reaffirmed

Researchers at Canaccord Genuity now has a $81 target price on Starwood Hotels (NYSE:HOT). Canaccord Genuity and their recent target price would now indicate a potential upside of 17.37% from the company’s last stock close price. The rating has been disclosed in a very recent research note on Friday morning.

From a total of 19 analysts covering Starwood Hotels (NYSE:HOT) stock, 12 rate it a ”Buy”, 0 a “Sell”, and 12 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $93 while the lowest target price is $73. The mean of all analyst targets is $84.53 with a 23.84% above today’s ($69.04) stock price. Starwood Hotels was the topic of 23 analyst reports since July 31, 2015 according to the firm StockzIntelligence Inc. Evercore downgraded shares on November 30 to “Hold” rating. RBC Capital Markets maintained shares with “Sector Perform” rating and $87.0 target share price in a report from a November 2. Stifel Nicolaus downgraded HOT stock in a recent report from November 30 to “Hold” rating. Deutsche Bank maintained the rating on October 29. Deutsche Bank has a “Buy” rating and a $88 price target on shares. Finally, CLSA downgraded the stock to “Outperform” rating in a report issued on a November 17.

The stock closed the day at $69.04 during the previous session. It is down 20.27% since May 1, 2015 and is downtrending. It has underperformed by 17.48% the S&P500.

Starwood Hotels & Resorts Worldwide, Inc. is a hotel and leisure company. The company has a market cap of $11.66 billion. The Company’s hotel business is focused on the global operation of hotels and resorts primarily in the luxury and upper upscale divisions of the lodging industry. It has 20.97 P/E ratio. The Firm owns Starwood Vacation Ownership, Inc., a well-known provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands.

According to Zacks Investment Research, “Starwood Hotels & Resorts Worldwide, Inc. is one of the world’s largest hotel operating companies. The company conducts their hotel business both directly and through the subsidiaries, including ITT Sheraton Corporation, Starwood Hotels & Resorts and CIGA S.p.A. The brand names include Sheraton, Westin, St. Regis/Luxury Collection, W and Four Points. Through these brands, the company is represented in most major markets of the world.” Get a free copy of the Zacks research report on Starwood Hotels & Resorts Worldwide Inc (HOT).