KBW is out with its report today on Strategic Hotels & Resorts BEE, maintaining Outperform.
In a note to clients, KBW writes, "Following 1Q results, we are raising 2011E FFO to reflect the $0.03 beat relative to our expectations. Hotel fundamentals and balance sheet flexibility continue to improve, and forecasts could prove conservative given accelerating trends. Pending balance sheet initiatives likely to be positive catalyst for shares, in our opinion."
KBW has a $7.00 PT on BEE.
Shares of BEE closed Friday at $6.74, up 0.30% from Thursday's close.
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