MLV Reiterates Buy On Starwood Hotels & Resorts Worldwide, $96 PT
In a research report published today, MLV analyst Ryan Meliker reiterated a Buy rating on Starwood Hotels & Resorts Worldwide (NYSE:HOT) with a price target of $96.
Meliker noted, “We believe this morning’s announcement of the repurchase of $857M in stock in 3Q points to management’s renewed focus on the buyback and overshadows solid quarterly results and soft guidance. 3Q results came in strong with RevPAR, EBITDA and EPS all exceeding the high-end of guidance and consensus estimates. However 4Q guidance is below investor expectations and initial 2015 RevPAR guidance of 4 – 6% may also be disappointing. Nonetheless, we believe the buybacks drive”
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 12.8% and a 73.9% success rate. Meliker has a -2.7% average return when recommending HOT, and is ranked #555 out of 3349 analysts.