BMO Capital analyst Ari Klein raised the firm’s price target on Hersha Hospitality to $10 from $7 and keeps a Market Perform rating on the shares after the company agreed to be acquired by KSL Capital for $10 per share. The deal is a “decent outcome” and likely the best way for Hersha to unlock value, the analyst tells investors in a research note. The firm says it cannot entirely rule out another bidder for Hersha, though it does not expect other lodging real estate investment trusts to get involved.
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