Hotel operator Wyndham Worldwide Corporation( WYN
The firm also set a $38 price target on WYN shares, which implies a 30% upside to the stock's Thursday closing price of $29.19.
A JMS analyst commented, "We believe the company can generate significant cash flow going forward, which will allow it to create value for shareholders by growth through acquisitions, share repurchases, or an increased dividend. We expect to see the company benefit from better management of its vacation ownership segment going forward, a change in direction it undertook at the end of 2008."
Wyndham Worldwide shares were mostly flat in premarket trading Friday.
The Bottom Line
Shares of WYN has a dividend yield of 1.64%, based on last night's closing stock price of $29.19. The stock has technical support in the $24 price area. If the shares can firm up, we see overhead resistance around the $30-$33 price levels. We would remain on the sidelines for now.
Wyndham Worldwide Corporation( WYN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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