Ryman Hospitality initiated with an Equal Weight at Morgan Stanley

Morgan Stanley initiated coverage of Ryman Hospitality (RHP) with an Equal Weight rating and $92 price target The firm says the company’s Ryman’s entertainment group exposure and “differentiated” convention hotel portfolio make it “best in-class” among the hotel real estate investment trusts. However, with Ryman’s valuation already at a premium to the group, Morgan Stanley sees better risk/rewards elsewhere.