Suntrust Robinson Humphrey announced on Wednesday that they have downgraded hospitality company Starwood Hotels (HOT).
The firm reported that they have lowered their rating on HOT from a “Buy” to “Neutral,” and have given the company a $65 price target. This price target suggests a 11.7% increase from the stock’s current price of $57.36.
Analysts have downgraded the company due to a valuation call based on its current price target.
Starwood shares were mostly flat during premarket trading Wesnesday. The stock has increased 19% in the past year.
The Bottom Line
Shares of Starwood Hotels (HOT) have a 2.18% dividend yield, based on Monday’s closing stock price of $57.36. The stock has technical support in the $54 price area. If the shares can firm up, we see overhead resistance around the $60-$61 price levels.
Starwood Hotels (HOT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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