Jefferies lowered the firm’s price target on Choice Hotels (CHH) to $133 from $154 and keeps a Hold rating on the shares. The firm, citing macro and market uncertainty and decelerating global travel, expects companies in the U.S. lodging group to lower RevPAR and fee guidance, particularly REITs. Among the group, the firm’s sole Buy ratings remain Wyndham Hotels (WH) for its “low-RevPAR, low-leverage franchise model” and “group-stable” Ryman Hospitality (RHP), the analyst noted.
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Read More on CHH:
- Choice Hotels upgraded to Neutral from Sell at Redburn Atlantic
- Choice Hotels price target raised to $144 from $136 at Truist
- Choice Hotels participates in a conference call with Truist
- Choice Hotels price target raised to $139 from $131 at Morgan Stanley
- Choice Hotels price target lowered to $137 from $138 at Wells Fargo