Hotel operator Starwood Hotels & Resorts Worldwide, Inc ( HOT ) on Tuesday saw its price target and earnings estimates lowered by analysts at Credit Suisse.
The firm said it now expects HOT shares to reach $64, which still suggests a massive 47% upside to the stock's Monday closing price of $43.48. Credit Suisse maintained its "Outperform" rating but also cut its earnings estimates, however, citing macroeconomic growth concerns.
Starwood Hotels shares were unchanged in premarket trading Tuesday.
The Bottom Line
Shares of Starwood Hotels ( HOT ) have a .69% dividend yield, based on last night's closing stock price of $43.48. The stock has technical support in the $38 price area. If the shares can firm up, we see overhead resistance around the $46-$50 price level.
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.
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