DiamondRock price target lowered to $9 from $10 at Truist

Truist analyst C. Patrick Scholes lowered the firm’s price target on DiamondRock (DRH) to $9 from $10 and keeps a Hold rating on the shares. The firm believes Q3 RevPAR for the loading sector “increasingly looks to be a miss” versus current consensus expectations. The analyst sees company 2025 RevPAR guides tracking towards the bottom-end of guided ranges. Truist took down estimates and price targets to reflect reduced expectations for RevPAR growth. The combination of volatility in consumer and business confidences, government segment cutbacks, and diminished in-bound international travel “are all manifesting in soft bookings “for Q3 into Q4, the firm contends.