Compass Point raised the firm’s price target on Sunstone Hotel to $10 from $9 and keeps a Neutral rating on the shares. The company’s Q4 results came in above expectations, but the 2024 guidance is below Compass Point’s estimate, the analyst tells investors in a research note. The firm reduced both 2024 and 2025 estimates to reflect the expected disruption from the conversion of the Andaz Miami Beach but upped the price target on an improving economic outlook.
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