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Fly News Breaks for December 11, 2018
DRH
Dec 11, 2018 | 08:24 EDT
As previously reported, Wells Fargo analyst Jeffrey Donnelly downgraded DiamondRock to Underperform from Market Perform and lowered his price target on the shares to $9.25 from $11. The analyst cited his view that lodging stocks will find it difficult to outperform the broader equity REIT market in the face of a slowing economic environment, DiamondRock's unfavorable geographic and brand exposure, and increasing exposure to destination leisure resorts with mixed results.
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