DiamondRock upgraded to Buy from Hold at Truist

Truist upgraded DiamondRock (DRH) to Buy from Hold with a price target of $11, up from $10. The upgrade is driven by expectations for stronger 2026 RevPAR growth than the Street anticipates, which should support both earnings upside and valuation multiple expansion, the analyst tells investors in a research note. For the first time in years, there might be some upside for the Hotel REIT subsector, and Truist sees modestly better RevPAR growth driving both earnings upside in what are more RevPAR-sensitive business models and “somewhat” better sentiment.