Wedbush analyst Jay Kornreich lowered the firm’s price target on Ryman Hospitality (RHP) to $110 from $115 and keeps an Outperform rating on the shares. The firm notes that amidst the uncertainty surrounding the economy and current global affairs, hotel REITs generally produced Q1 earnings ahead of bleak expectations. Reduced government travel is weighing on various portfolios, softness is expected from ITYFTY group demand, and the macro-outlook remains unclear, Wedbush says. Due to this uncertainty, the firm is lowering its EBITDA multiples roughly half a turn on average.
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Read More on RHP:
- Ryman Hospitality announces updated investor presentation
- Ryman Hospitality Properties Reports Record Q1 2025 Results
- Ryman Hospitality’s Record Q1: Growth Amid Challenges
- Strong Q1 Performance and Resilience: Ryman’s Financial Stability Amidst Macroeconomic Challenges
- Ryman Hospitality reports Q1 adjusted FFO $2.08, consensus $1.79
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