Tuesday, April 27, 2010

Analyst upgrades lodging, sees signs of recovery

Analyst upgrades lodging, sees signs of recovery

Analyst upgrades lodging, sees signs of recovery

Posted: 27 Apr 2010 10:48 AM PDT

{"s" : "chh,hot,hst,mar","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""}

NEW YORK (AP) -- An analyst raised her rating for lodging companies Tuesday, saying both the U.S. and international markets appear to be on their way toward recovery.

"The domestic industry is at the cusp of a protracted recovery period that should be bolstered by a dearth of new supply," Felicia Hendrix of Barclays Capital wrote in a client note.

Hendrix lifted her sector rating to "Neutral" from "Negative." And she raised her ratings of Marriott International Inc. and Starwood Hotels & Resorts Worldwide Inc. to "Equal Weight" from "Underweight."

Marriott's stock fell 84 cents, or 2.3 percent, to $36.54 Tuesday afternoon, while shares of Starwood declined $1.54, or 2.8 percent to $52.92.

Hendrix maintained an "Equal Weight" rating for Host Hotels & Resorts Inc. and an "Underweight" rating for Choice Hotels International Inc. Host's stock shed 37 cents, or 2.2 percent, to $16.41, and Choice's shares dropped $1.72, or 4.4 percent, to $37.15.

The broader market slid Tuesday as Standard & Poor's downgraded the debt of Portugal and Greece. The rating agency's move intensified investors' fears that Europe's debt problems are spreading.

Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.
Posted by at

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)