Goldman (NYSE:GS) Likes Starwood Hotels' (NYSE:HOT) Expanding Margins

Goldman Sachs (NYSE:GS) raised their EPS estimates and price target on Starwood Hotels & Resorts (NYSE:HOT), citing permanent cost cuts of 8 percent which will help margins and earnings going forward.

EPS estimates for full year 2010, 2011, and 2012 were increased from $1.12, $1.56, and $2.00 to $1.13, $1.65, and $2.35.

Goldman Sachs reiterates their "Conviction Buy" rating on Starwood Hotels & Resorts, which closed Thursday at $60.90, up $0.99, or 1.65 percent.

Goldman increased their price target on them from $64 to $70.