Is Hilton Worldwide Holdings Inc. (HLT) One of the Best Stocks to Buy According to Billionaire Bill Ackman?

Hilton Worldwide Holdings Inc. (NYSE:HLT) is one of the best stocks to buy, according to billionaire Bill Ackman. On January 14, Hilton Worldwide Holdings Inc. (NYSE:HLT) board of directors approved a $3.5 billion increase in the company’s existing stock repurchase program. The total amount authorized for buyback has since risen to $4.6 billion.

Is Hilton Worldwide Holdings Inc. (HLT) One of the Best Stocks to Buy According to Billionaire Bill Ackman?

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The share buyback boost comes on the heels of Goldman Sachs upgrading the stock to a Buy from a Neutral and setting a $317 price target. The investment bank expects the company to return $11 billion in stock repurchases over the next four years, representing 20% of total market capitalization.

According to the investment bank, the company is well-positioned to benefit from ongoing outperformance in the higher-end consumer segment and international markets. The company boasts strong sector positioning, backed by a large pipeline of existing room count. Goldman Sachs has also touted Hilton’s competitive edge in revenue per available room, even as it focuses on property conversions.

Hilton Worldwide Holdings Inc. (NYSE:HLT) is a global hospitality giant that owns, manages, and franchises a massive portfolio of hotels, resorts, and timeshare properties under numerous brands, offering lodging and related services (food and dining) across luxury, lifestyle, full-service, and economy options.

While we acknowledge the potential of HLT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HLT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.