Barclays analyst Richard Hightower lowered the firm’s price target on Pebblebrook Hotel (PEB) to $9 from $10 and keeps an Underweight rating on the shares. The firm adjusted targets in the lodging real estate investment trust space as part of a Q1 preview. While earnings could be better than expected, the {knock-on effects” from the Iran war, higher oil prices, and possibly softer World Cup demand “prevent us from turning positive on the sector overall,” the analyst tells investors in a research note.
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