Morgan Stanley upgraded Ryman Hospitality (RHP) to Overweight from Equal Weight with a price target of $105, up from $88. The firm cites the company’s RevPAR acceleration for the upgrade. Ryman’s RevPAR acceleration creates a “widening gap” relative to its full-service hotel real estate investment trust peers, the analyst tells investors in a research note. Morgan Stanley sees upside to consensus estimates from a group demand recovery following last year’s disruption from policy-related uncertainty and the company’s soon-to-be completed renovations.
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