Baird raised the firm’s price target on Sunstone Hotel (SHO) to $13 from $12 and keeps an Outperform rating on the shares. The firm hosted meetings with management where investor’s main focus was the recent M&A speculation and management’s view on value, strategy execution, and ways to close the NAV discount. From a buyer’s perspective, Baird believes value exists around $13/share but believe Sunstone’s Board of Directors likely sees value in the $14-$15/share range
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Read More on SHO:
- Service Properties price target lowered to $2.75 from $3 at Wells Fargo
- Sunstone Hotel price target raised to $13 from $11 at Wells Fargo
- Xenia Hotels price target raised to $18 from $17 at Wells Fargo
- DiamondRock price target raised to $10.50 from $10 at Wells Fargo
- Host Hotels price target raised to $22 from $21 at Wells Fargo
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
