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Fly News Breaks for November 16, 2017
LHO, SHO, CHSP
Nov 16, 2017 | 05:59 EDT
JPMorgan analyst Joseph Greff downgraded Chesapeake Lodging Trust (CHSP) to Underweight saying the valuations of Lodging REITs are "relatively rich" following the quarter-to-date outperformance. Prospects of U.S. corporate tax reform eventually stimulating business travel are already reflected in the stock prices, Greff tells investors in a research note. He keeps a $23 price target for Chesapeake Lodging shares. The analyst this morning also downgraded Sunstone Hotel (SHO) and LaSalle Hotel (LHO) to Underweight.
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