Starwood Hotels’ Price target Boosted at Bank of America/Merrill Lynch (HOT)

Filed in bank of america, dividend, Gold Investment, o, shares, target by on December 7, 2010 0 Comments

Hotel operator Starwood Hotels & Resorts Worldwide, Inc ( HOT ) on Tuesday saw its price target boosted by analysts at Bank of America/Merrill Lynch. The firm said it raised its target for HOT from $62 to to $70, which implies a nearly 17% upside to the stock’s Monday closing price of $60.68. The analyst also maintained its “Buy” rating on the stock, noting the company is its top lodging pick for 2011 due to a strong macro hotel cycle. Starwood Hotels shares were mostly flat in premarket trading Tuesday. The Bottom Line Shares of Starwood Hotels ( HOT ) have a .50% dividend yield, based on last night’s closing stock price of $60.08. The stock has technical support in the $55 price area. If the shares can firm up, we see overhead resistance around the $65 price level. Starwood Hotels & Resorts Worldwide, Inc ( HOT ) 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 .

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Starwood Hotels’ Price target Boosted at Bank of America/Merrill Lynch (HOT)

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