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Fly News Breaks for May 11, 2018
CHH
May 11, 2018 | 08:58 EDT
Wells Fargo analyst Jeffrey Donnelly downgraded Choice Hotels to Market Perform from Outperform with an unchanged price target of $88 following yesterday's Q1 results. The analyst says his belief that Choice should trade at a valuation in-line with the franchised restaurants has played out. Further, the "EBITDA drag" of Skytouch is unlikely to be relieved through a sale or wind-down under the new leadership, Donnelly tells investors in a research note.
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