B of A Securities Upgrades Host Hotels & Resorts to Buy, Raises Price Target to $23
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Shaun Kelley has upgraded Host Hotels & Resorts (NASDAQ:HST) from Underperform to Buy and increased the price target from $18 to $23. This upgrade reflects a positive outlook on the company's stock, suggesting potential growth and a higher valuation than previously estimated.
January 08, 2024 | 1:53 pm
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POSITIVE IMPACT
Host Hotels & Resorts has been upgraded by B of A Securities from Underperform to Buy, with a raised price target from $18 to $23, indicating a bullish outlook on the stock.
Analyst upgrades typically lead to a positive short-term reaction in the stock market as they suggest improved fundamentals or market conditions for the company. The increase in price target from $18 to $23 represents a significant upward revision, which can be seen as a strong endorsement of the company's potential for growth and profitability. This is likely to instill confidence in investors and could result in a short-term increase in the stock price of Host Hotels & Resorts.
CONFIDENCE 90
IMPORTANCE 90
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