Summit Hotel Properties price target raised to $5.75 from $5 at BofA

BofA analyst Dany Asad raised the firm’s price target on Summit Hotel Properties (INN) to $5.75 from $5 and keeps a Neutral rating on the shares. The firm notes that its lodging trackers are in-line to marginally better than its estimates, but thinks investor expectations are muted and sentiment is cautious heading into earnings from the group. Among C-Corps, the firm raised its Hilton target multiple to a peak cycle multiple and among lodging REITs it adjusted its price targets on Ryman and Summit ahead of earnings.