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Fly News Breaks for August 9, 2018
CHH
Aug 9, 2018 | 07:00 EDT
JPMorgan analyst Joseph Greff views Choice Hotels' Q2 results as mixed with adjusted EBITDA meeting his estimate and domestic RevPAR growth coming in slightly below. Choice upped its full year adjusted EBITDA guidance by $2.5M at the midpoint, but took RevPAR growth guidance lower by 25 basis points at the midpoint, Greff tells investors in a post-earnings research note. The analyst views the valuation as "stretched" at current levels and keeps an Underweight rating on the name with a year-end 2019 price target of $73.
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