Starwood Downgraded at Suntrust Robinson (HOT)

Starwood Downgraded at Suntrust Robinson (HOT)

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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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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