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Fly News Breaks for November 9, 2018
CHH
Nov 9, 2018 | 07:34 EDT
JPMorgan analyst Joseph Greff lowered his price target for Choice Hotels to $71 and keeps an Underweight rating on the shares following the company's Q3 results. The company reported adjusted EBITDA of $103.6M, above the analyst's $100.7M estimate, but he notes that domestic RevPAR growth decreased 1.4% year-over-year versus his estimate of up 0.75%. The analyst views the valuation of Choice Hotels as "stretched" at current levels.
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