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Fly News Breaks for June 27, 2019
DRH
Jun 27, 2019 | 06:32 EDT
Wells Fargo analyst Jeffrey Donnelly last night upgraded DiamondRock Hospitality Company to Market Perform from Underperform and raised his price target for the shares to $10.50 from $10. In 2020, many of DiamondRock's core markets and assets may show accelerating RevPAR growth, thereby mitigating the relative performance gap from 2019, Donnelly tells investors in a research note. Further, he believes the company's 20% discount to net asset value in the sector is increasing pressure on management teams to explore share repurchases.
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