Markets

Wyndham Worldwide Started as a “Buy” at Janney Montgomery Scott (WYN)

Hotel operator Wyndham Worldwide Corporation( WYN

) saw its coverage initiated on Friday with a "Buy" rating by analysts at Janney Montgomery Scott.

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.

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.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Stocks