Summit Hotel Properties price target raised to $7 from $6.50 at BofA

BofA raised the firm’s price target on Summit Hotel Properties (INN) to $7 from $6.50 and keeps an Underperform rating on the shares. The firm, which “tweaks” estimates ahead of Q4 earnings, expects Q4 beats from the lodging group as it notes that RevPAR tracking is above the high end of outlook ranges and 200 basis points ahead of the firm’s prior estimates.