Baird upgraded Sunstone Hotel to Outperform from Neutral with a price target of $12, up from $11. The analyst believes investors are overly discounting today’s renovation-related disruption, and views the company’s earnings ramp-up and 2025-2026 outlook as attractive and not fully captured in current estimates, which appear too low. The firm wants to get ahead of the shift in investors’ focus – from renovation disruption to “growth tailwinds, a cleaner narrative, and a higher earnings profile.”
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Read More on SHO:
- Target upgraded, CVS downgraded: Wall Street’s top analyst calls
- Compass upgrades Sunstone to Neutral on more reasonable valuation
- Sunstone Hotel upgraded to Neutral from Sell at Compass Point
- Sunstone Hotel reports Q1 adjusted FFO 18c, consensus 16c
- SUNSTONE HOTEL INVESTORS REPORTS RESULTS FOR FIRST QUARTER 2024
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