Starwood Hotels Downgraded from Goldman’s “Conviction Buy” List (HOT)

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Starwood Hotels & Resorts Worldwide, Inc ( HOT ) on Wednesday saw its shares removed from Goldman Sachs' prestgious "Conviction Buy" List.

The firm said it removed HOT on a valuation call, noting the stock has jumped 62% over the past year. Starwood operated about 440 hotels with around 153,800 rooms worldwide as of the end of 2009.

Starwood Hotels shares fell 53 cents, or -0.9%, in premarket trading Wednesday.

The Bottom Line
Shares of Starwood Hotels ( HOT ) have a .50% dividend yield, based on last night's closing stock price of $60.55. The stock has technical support in the $55 price area. If the shares can firm up, we see overhead resistance around the $65 price level.

Starwood Hotels & Resorts Worldwide, Inc ( HOT ) is not recommended at this time, holding a Dividend.com 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 The NASDAQ OMX Group, Inc.

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