JPMorgan downgraded Ryman Hospitality (RHP) to Underweight from Neutral with a $100 price target The firm sees recent share price appreciation, resulting in what it views as an unattractive and unsustainable valuation multiple. At current levels, Ryman shares are trading at multiples that are “rich” even with a group and convention focused lodging REIT, which the firm thinks is more than appreciate at current levels, the analyst tells investors in a research note.
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