Argus Upgrades Host Hotels (HST) to Buy

Argus analyst Angus Kelleher-Ferguson upgraded Host Hotels (NASDAQ: HST) from Hold to Buy with a price target of $20.00. The analyst commented:

• We expect traditional hotel companies to outperform pure-play vacation rental companies in the near term, and to capture an outsized share of the recovery in post-pandemic travel/leisure spending.
• Based on the improving fundamental picture for hotel demand, we are raising our 2021 AFFO estimate to $0.73 per share from $0.68 and reaffirming our 2022 estimate of $1.65 per share.
• Host has a solid balance sheet, and is the only lodging REIT with an investment-grade rating from the major credit rating agencies.
• HST appears favorably valued at a projected 2022 price/AFFO multiple of 9.8, below the peer average of 15.7.

For an analyst ratings summary and ratings history on Host Hotels click here. For more ratings news on Host Hotels click here.

Shares of Host Hotels closed at $16.09 yesterday.

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