Goldman Sachs Raises Price Target, Estimates for Starwood Hotels (HOT)


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Hotel operator Starwood Hotels & Resorts Worldwide, Inc ( HOT ) saw its earnings estimates and price target boosted on Monday by analysts at Goldman Sachs.

The firm said it now expects HOT shares, which had closed at $54.51 on Friday, to reach $62. Goldman also boosted its earnings estimates for the company, citing higher RevPAR growth prospects, while maintaining its "Buy" rating.

Starwood Hotels shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of HOT have a dividend yield of .37%, based on Friday's closing stock price of $54.51. The stock has technical support in the $47-$50 price area. If the shares can continue the recent ascent, we see overhead resistance around the $56-$60 price levels. We would remain on the sidelines for now.

Starwood Hotels & Resorts Worldwide, Inc ( HOT ) is not recommended at this time, holding a DARS™ Rating of 3.4 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 .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks

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