MLV Reaffirms Buy On Strategic Hotels & Resorts, Sees 9% Upside
In a research report issued today, MLV analyst Ryan Meliker reaffirmed a Buy rating on Strategic Hotels & Resorts (NYSE:BEE) with a price target of $14.00, which represents a potential upside of 9% from where the stock is currently trading.
Meliker noted, “BEE reported a solid beat on 3Q driven by robust group demand in the quarter. However, the entire beat vs. consensus was not carried through to full-year guidance, leading to implied 4Q guidance below consensus expectations. While the quarter was very strong, we believe much of that upside was already priced in and with 4Q implied guidance coming in lighter than expectations it is possible full-year numbers could come down on the print. As such, while we liked the quarterly results, we don’t know if this is enough to drive out-performance today.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ryan Meliker has a total average return of 13.9% and a 79.2% success rate. Meliker has a 19.3% average return when recommending BEE, and is ranked #533 out of 3355 analysts.