Pebblebrook Hotel price target raised to $14 from $13 at Stifel

Stifel analyst Simon Yarmak raised the firm’s price target on Pebblebrook Hotel (PEB) to $14 from $13 and keeps a Buy rating on the shares. The company issued $400M of convertible senior notes due 2030 at an attractive price, the analyst tells investors in a research note. The firm views the private placement as a positive for Pebblebrook, saying it removes a significant overhang from the stock.