Barclays initiated coverage of Park Hotels & Resorts with an Overweight rating and $13 price target The firm launched coverage of seven hotel real estate investment trusts. The firm believes the hotel REITs will continue to function mainly as a short- term trading sector for many REIT investors, rather than as a potential source of long-term excess returns. Barclays favors companies with “definable business strategies and solid balance sheets.”
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PK:
- Park Hotels & Resorts Updates Investor Strategy
- Park Hotels & Resorts provides update on non-core asset dispositions
- Park Hotels & Resorts price target raised to $12 from $11 at Truist
- Park Hotels & Resorts completes sale of Hilton San Francisco hotels
- Park Hotels & Resorts price target lowered to $12 from $13 at Evercore ISI