Truist analyst C. Patrick Scholes lowered the firm’s price target on Pebblebrook Hotel (PEB) to $9 from $10 and keeps a Hold rating on the shares. The company provided cautious commentary at Q1 earnings, but the firm could see some surprising upside if more Americans decide to stay domestic/regional for vacations, the analyst tells investors in a research note. Truist adds that the stock looks fairly priced today in a soft macro environment but with downside risks given high relative leverage.
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