As previously reported, BofA double downgraded Choice Hotels (CHH) to Underperform from Buy with a price target of $110, down from $160. Continued low end Lodging weakness for the last two to three years, coupled with the weakest net unit growth of its peer set, decelerating tailwinds from M&A, and less balance sheet upside potential moving forward, has the firm “increasingly questioning underlying fundamentals,” the analyst tells investors.
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Read More on CHH:
- Choice Hotels downgraded to Underperform from Buy at BofA
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