Hilton stock stays Hold-rated as analyst raises price target following multiple expansion By Investing.com
On Thursday, Truist Securities adjusted their financial outlook for Hilton Worldwide (NYSE: HLT), increasing the hotel giant’s price target to $220.00, up from the previous $208.00. The firm has decided to maintain a Hold rating on the stock despite the price target adjustment.
The revision in the price target comes after a detailed analysis of Hilton’s anticipated financial performance. Truist Securities has updated its 2024 Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) estimate for Hilton to $3,402 million, a slight increase from the previous forecast of $3,397 million. However, the estimated Earnings Per Share (EPS) for the same year has been marginally adjusted to $7.04 from $7.05.
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