Starwood Downgraded at Suntrust Robinson (HOT)
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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