Wyndham Worldwide Started as a “Buy” at Jefferies (WYN)

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Analysts at Jefferies & Co. on Wednesday initiated coverage on hotel operator Wyndham Worldwide Corporation ( WYN ) with a "Buy" rating.

The firm also set a $49 price target on WYN shares, suggesting a massive 47% upside to the stock's Tuesday closing price of $33.26.

A Jefferies analyst commented, "We believe WYN is a significantly undervalued stock in a market environment where valuation bears little relevance. However, we believe these conditions should change over time, with WYN being a primary beneficiary. We expect the market view of timeshare to become more positive and the top line stable growth, cash generation and equity accretion should result in a more appropriately valued share price."

Wyndham shares posted small losses in premarket trading Wednesday.

The Bottom Line
Shares of Wyndham Worldwide ( WYN ) have a 1.80% dividend yield, based on last night's closing stock price of $33.26. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $34-$36 price levels.

Wyndham Worldwide Corporation ( WYN ) 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 Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: WYN


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