Morgan Stanley analyst Stephen Grambling raised the firm’s price target on Choice Hotels (CHH) to $121 from $113 and keeps an Underweight rating on the shares. Despite still sluggish RevPAR trends, lodging companies outperformed the S&P 500 over the past 90 days, with timeshare the best performing sub-sector, the analyst tells investors in a research note. Stocks appear to be sending mixed signals, with premium valuations potentially calling for re-accelerating trends, yet higher operating leverage REITs still lagging, the firm says.
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Read More on CHH:
- Choice Hotels price target raised to $121 from $111 at Barclays
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- Choice Hotels price target lowered to $113 from $115 at Morgan Stanley