As previously reported, BofA analyst Dany Asad double upgraded Sunstone Hotel (SHO) to Buy from Underperform with a price target of $10, up from $9.50. The portfolio’s geographic mix skews favorably towards less recovered markets and the company’s three key assets – including two in Napa Valley and the Andaz Miami Beach – are “not accurately priced into the stock,” the analyst tells investors. This was highlighted by a press report las December that indicated that Sunstone has had a buyout offer of $13 per share, the analyst added.
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