Wells Fargo raised the firm’s price target on DiamondRock (DRH) to $10.50 from $10 and keeps an Equal Weight rating on the shares. The lodging REITs are coming off a period of limited M&A chatter, and the firm expects the news of interest in Sunstone Hotel (SHO) to also accrue to peers, providing a slightly elevated floor.
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Read More on DRH:
- Lodging REIT sector should rally after Bloomberg report on Sunstone, says Stifel
- DiamondRock downgraded to Hold from Buy at Stifel
- Morgan Stanley, Comerica upgraded: Wall Street’s top analyst calls
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- DiamondRock acquires AC Hotel Minneapolis Downtown for $30M
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