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Starwood Hotels Cut to “Equal-weight” at Morgan Stanley (HOT)

Lodging company Starwood Hotels & Resorts Worldwide, Inc ( HOT ) on Friday caught a big downgrade from analysts at Morgan Stanley.

The firm said it cut its rating on HOT from "Overweight" to "Equal-weight" with a $47 price target. That target suggests a 16% upside to the stock's Thursday closing price of $40.67.

Morgan Stanley noted the company has relatively high exposure to European markets, and is not optimistic that any near-term catalysts will materialize.

Starwood Hotels shares fell 46 cents, or -1.1%, in premarket trading Friday.

The Bottom Line

Shares of Starwood Hotels ( HOT ) have a .74% dividend yield, based on last night's closing stock price of $40.67. The stock has technical support in the $37-$40 price area. If the shares can firm up, we see overhead resistance around the $44-$46 price levels.

Starwood Hotels & Resorts Worldwide, Inc ( HOT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 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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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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