Barclays analyst Anthony Powell lowered the firm’s price target on Host Hotels to $24 from $25 and keeps an Overweight rating on the shares. The firm acknowledges the 2024 multiple paid for Turtle Bay looks rich, but sees growth at the property after the Ritz-Carlton branding and notes Host has had success in moving EBITDA higher at acquired, luxury resorts.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HST:
- Host Hotels & Resorts Enters into Agreement to Acquire Turtle Bay Resort in Hawaii
- Host Hotels & Resorts Reports Positive Annual Meeting Outcomes
- Host Hotels & Resorts, Inc. Announces Pricing Of $600 Million Of 5.700% Senior Notes Due 2034, a Green Bond, By Host Hotels & Resorts, L.P.
- Host Hotels & Resorts Provides Updated First Quarter 2024 Investor Presentation
- Host Hotels acquires two-hotel complex in Nashville for $530M in cash