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• HOT 50% Rate It
• MAR 50% Rate It

Analysts at Jefferies initiated coverage on hotel operator Starwood Hotels & Resorts Worldwide, Inc ( HOT ) on Monday with a "Buy" rating.

The analysts set a price target for the company at $59. The valuation is a +14.5% upside to Friday's closing price of $51.52.

Jefferies commented, "We find a lot to like about Starwood. An asset-light operator, the company has a strong domestic heritage, but the business is evolving towards faster-growing Emerging Markets. Starwood comes top on our qualitative Jefferies Scorecard. The company stands on 10.3x FY13E EV/EBITDA, an 8% discount to Marriott ( MAR ), despite its more positive attributes. Our price target offers 17% upside potential."

Starwood shares were flat in premarket trading on Monday. The stock is up $3.55, or +7.4%, year-to-date.

The Bottom Line
Shares of Starwood Hotels ( HOT ) have a 2.43% dividend yield, based on Friday's closing stock price of $51.52. The stock has technical support in the $46-$48 price area. If the shares can firm up, we see overhead resistance around the $54-$56 price levels.

Starwood Hotels & Resorts Worldwide, Inc ( 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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