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Fly News Breaks for February 1, 2016
AHT
Feb 1, 2016 | 06:24 EDT
Canaccord analyst Ryan Meliker downgraded Ashford Hospitality (AHT) to Neutral and lowered his price target to $6 from $8 on shares. The analyst said sister company Ashford Hospitality Prime (AHP) will not resolve its strategic review in the near term and sees a negative risk to sentiment toward Ashford Hospitality management. Given increasing risk, combined with disappointing announcements of lower than expected excess proceeds from debt refinancings and the inability to execute a strategic portfolio sale, Meliker expects investor concerns to increase.
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